Terms & Conditions

General Terms and Conditions of Service

Crypto to Cash

(“Terms and Conditions”)

These Terms shall regulate the conditions under which cryptocurrencies are repurchased and sold at branch offices of Hrvatska pošta d. d. (Croatian post), seated in Zagreb, Jurišićeva 13, PIN: 87311810356, registered at the Commercial Court in Zagreb under no.: 080266264 (hereinafter HP). The repurchase and sale of cryptocurrencies shall be processed by Electrocoin d. o. o. – seated in Zagreb, Rukavec 5, PIN: 45841695639, registered at the Commercial Court in Zagreb under no. 080893710 – which shall act as a contract partner (hereinafter: EC; HP and EC hereinafter: Parties). HP shall carry out activities of repurchasing and selling cryptocurrencies from and to a user on behalf of EC, as stipulated by these Terms. Privacy Protection Policy is an integral part of these Terms.

 

DEFINITION OF TERMS

CRYPTOCURRENCY is a digital asset used as a medium of exchange wherein cryptographic algorithms are used to carry out financial transactions, control the creation of additional units, and verify their transfer.

VIRTUAL CURRENCY is for the purposes of these Terms a cryptocurrency as it is defined by stipulations of the Anti-Money Laundering and Terrorist Financing Law: a digital display of value not issued and not guaranteed by any central bank or public body, not necessarily related to any legally established currency, not having a legal status of a currency or money, accepted by natural persons or legal entities as a medium of exchange that can be transferred, stored, and traded electronically.

EXCHANGE PERIOD is the time in which the exchange rate is guaranteed. It is listed in the buyback coupon.

FIAT MONEY is the money issued by a central bank of a country or monetary union. It represents a legal method of payment. For the purposes of these Terms, the only Fiat Money referred to shall be the Croatian kuna (HRK).

SERVICE is a service provided by Parties for the purpose of exchanging cryptocurrencies for Fiat money and vice-versa, in accordance with the stipulations and conditions of these Terms.

BUYBACK TRANSACTION in these Terms shall refer to the entire process of exchanging cryptocurrencies for fiat money, as stipulated by these Terms.

SALES TRANSACTION in these Terms shall refer to the entire process of exchanging fiat money for cryptocurrencies, as stipulated by these Terms.

TRANSACTION is a buyback or sales transaction, depending on a user’s request to carry out one of the two.

TRANSACTION REQUEST – for the purposes of these Terms shall refer to the oral request by a user at a branch office of HP for issuing buyback or sales coupon.

CRYPTOCURRENCY WALLET is a record in the blockchain network which represents cryptocurrency ownership. It is marked by an alphanumeric address.

BLOCKCHAIN TRANSACTION – is a record in the blockchain network used for carrying out an irrevocable transfer of cryptocurrency ownership from a cryptocurrency sender to a cryptocurrency receiver.

INITIATION OF BLOCKCHAIN TRANSACTION for the purposes of these Terms, this is the moment at which it becomes clear that there is a blockchain transaction on the blockchain network which was used to send a cryptocurrency from a sender to a receiver, in accordance with coupon terms and conditions.

INITIATION OF BLOCKCHAIN BUYBACK TRANSACTION is for the purpose of these Terms the moment at which EC sees that there is a blockchain transaction on the blockchain network in which a cryptocurrency was sent by a user to EC’s cryptocurrency wallet, in accordance with the buyback coupon terms and conditions.

FINALIZATION OF BLOCKCHAIN TRANSACTION is for the purpose of these Terms the moment at which EC sees that a blockchain transaction, in which a cryptocurrency was sent by the sender into the cryptocurrency wallet of the receiver, has received enough confirmations, in accordance with the terms and conditions of the buyback coupon.

BUYBACK COUPON is the offer by EC to repurchase a cryptocurrency from a user, in accordance with these Terms.

SALES COUPON is the offer by EC to sell a cryptocurrency to a user, in accordance with these Terms.

COUPON is a buyback or sales coupon, which depends on the type of transaction.

USER is a major and business-oriented natural person, of any nationality, upon whose request a transaction is made, in accordance with these Terms.

INWARD PAYMENT is the amount of fiat money paid by a user at a branch office of HP to carry out the Sales transaction.

OUTWARD PAYMENT is the amount of fiat money that is to be paid to a user at a branch office of HP upon finalization of a buyback transaction.

BRANCH OFFICES for the purpose of these Terms are postal offices, the list of which is appended to these Terms (Annex 1)

COUPON CODE is the first of two parts of the alphanumeric code printed on the Sales coupon, which together with the Verification code enables a user to request a purchased cryptocurrency to be transferred to a cryptocurrency wallet, which he/she can determine in the Sales transaction.

VERIFICATION CODE is the second and final of the two parts of the alphanumeric code that EC sends to a user by email, which together with the Coupon code, enables the user to request a purchased cryptocurrency to be transferred to the cryptocurrency wallet, which he/she can determine in the Sales transaction.

PURCHASED CRYPTOCURRENCY TRANSFER – is the procedure in which EC initiates the transfer of the purchased cryptocurrency into the cryptocurrency wallet determined by the user, under the condition that the user previously requests so by having EC access the website https://bitcoin-mjenjacnica.hr/#redeem, enter the coupon and verification codes in the interface, as well as the address of the cryptocurrency transfer based on the Sales transaction, and confirm the user’s request.

APPLICATION CONFIRMATION – the moment at which an employee of HP confirms in the exchange system of the EC that a user has paid the appropriate sum of fiat money to exchange it for an equivalent value of a cryptocurrency, in accordance with the Sales coupon. This moment marks the moment of the irreversibility of the Sales transaction.

If Parties decide to end their cooperation, coupon users will be notified about coupon redemption options by HP at branch offices and by EC by email.

Please read these Terms carefully.

These Terms entail an agreement on Transaction which enables cryptocurrencies to be exchanged for fiat money and vice-versa (hereinafter Agreement). They represent the agreement between you (hereinafter You / Your / User) and Parties (hereinafter We, Us), in accordance with these Terms.

The agreement refers to your use of the cryptocurrency-to-fiat money and fiat money-to-cryptocurrency exchange services and vice-versa at HP branch offices (hereinafter Service).

 

  1. AGREEMENT
    1. Request to carry out a Transaction as stipulated by these Terms is Your acceptance of and compliance with these Terms and all Related Terms, Instructions, and other materials. If You are not compliant with these Terms, Related Terms, Instructions, and other materials, You will not be able to use the Service. Terms and Related terms are available at EC’s website https://paycek.io/processing/crypto2cash/tos/hr, and users can also get them at HP branch offices.
    2. By initiating a blockchain buyback transaction, that is, by carrying out an inward payment at a sales transaction, You comply with the cryptocurrency-to-fiat money exchange course and vice-versa.
    3. We reserve the right to amend these Terms at any time, by publishing the amended version at https://paycek.io/processing/crypto2cash/tos/hr. Amendments enter into force when published online.
      1. You are further compliant that We can (a) amend or cancel any part of the Service at any given moment and (b) block Your access to the Service at any given moment by notifying you through whichever channel we deem appropriate. You are compliant that we shall not be liable to You or any other third party for amendments and/or cancellations of the Service, for blocking Your access to the Service, unless otherwise explicitly stipulated by these terms.
    4. By using the Service, you guarantee that you are able and/or willing to enter into an agreement as stipulated by these Terms.
    5. Unless otherwise defined by these Terms, terms used in these Terms are defined at the beginning. All terms not defined by these Terms shall be understood as they are usually understood for the same or similar transactions.
    6.  
  2.  SERVICE
    1. The service shall be subject to these Terms.
    2. You can initiate a buyback or sales transaction at an HP branch office.
      1. If You take part in a sales transaction, the moment risk is transferred from the User to the Parties is the moment when the blockchain transaction has been verified and completed, in accordance with the information on the buyback coupon. The moment of the irreversibility of a sales transaction is the moment when a blockchain buyback transaction is initiated. A model of a buyback coupon is an integral part of these Terms and is appended (Annex 2).
      2. If You take part in a sales transaction, the moment of irreversibility is the moment when the payment of fiat money for the equivalent of cryptocurrency is confirmed, in accordance with the Sales coupon. Risk transfer is completed once the purchased cryptocurrency is sent by EC to your request. A model of a sales coupon is an integral part of these Terms and is appended (Annex 3).
      3. All transactions are subject to verification. We can grant or deny the proposed transaction based on any given reason.
    3. Buyback transaction mechanism
      1. To carry out a buyback transaction:
        • you will have to initiate a sales transaction by using the Request a transaction to transfer an amount of cryptocurrency into the crypto wallet of EC based on the exchange rate determined by EC,
        • show an HP employee an ID issued in Croatia or abroad, and
        • provide him/her with information in accordance with item 4.2 of these Terms.
        • You must provide an email address at which you will be notified of sales transaction status
        • An HP employee will give you the buyback coupon entailing the information needed to carry out the buyback transaction and the terms and conditions thereof,
        • You must carry out a transaction of a cryptocurrency via a blockchain transaction in accordance with the terms of the buyback coupon
        • upon completion of the blockchain transaction, you can request a payout of the fiat money at an HP branch office.
      2. All cryptocurrencies that EC receives are in its ownership once the blockchain transaction is completed based on the information on the buyback coupon.
      3. Upon reception of the adequate amount of a cryptocurrency into the crypto wallet of the EC, that is, upon completion of the blockchain transaction, you can collect the payment of fiat money at an HP branch office, pursuant to information from the buyback coupon, using your ID. Upon payout of the fiat money, you will be issued a payment confirmation.
      4. EC will inform you about the valid completion of the blockchain transaction by email.
      5. If a blockchain transaction is not completed, in accordance with the terms of the buyback coupon:
        • If the cryptocurrency payment amount carried out by the user is smaller than the amount listed in the buyback coupon, HP shall pay the user the equivalent value of the received amount of cryptocurrency in fiat money, based on the exchange rate listed on the buyback coupon. In such a case, the user accepts to have requested an exchange of the actual sum of the cryptocurrency for fiat money
        • If the cryptocurrency payment amount carried out by the user is greater than the amount listed in the buyback coupon, HP shall pay the user only the amount of fiat money listed in the buyback coupon. For a refund of the excess amount paid, users can contact EC, which will refund the excess amount deducted by fees and expenses. In such a case, the user accepts to have requested a buyback of fiat money in the amount listed in the buyback coupon.
    4. Sales transaction mechanism
      1. To carry out a sales transaction:
        • you must initiate a sales transaction using the Request to carry out a transaction to pay in an amount of fiat money for which you will receive an equivalent value of cryptocurrency in your crypto wallet that you determine based on the exchange rate determined by EC.
        • provide an HP employee an email address at which you will receive a verification code
        • show an HP employee your ID, issued in Croatia or abroad, and provide him with information in accordance with item 4.2 of these terms
        • carry out a payment of the adequate amount of fiat money to accept the offer from the sales coupon
        • Based on the confirmation by HP to EC about the payment of fiat money (see previous item), EC will send you an email containing a verification code to the email address you provided at sales transaction initiation
        • you may request to transfer the purchased cryptocurrency by accessing https://bitcoin-mjenjacnica.hr/#redeem and entering the verification code, the coupon code, and determining the cryptocurrency wallet you wish to use for the transaction
        • by confirming the said request by the EC, the cryptocurrency is transferred into the crypto wallet
      2. All fiat currencies that Parties receive are owned by the Parties once the confirmation is made.
      3. EC will inform you about the completion of the blockchain transaction using the email address you provided for sales transaction purposes.
  3.  RISKS
      1. If EC is unable to receive the cryptocurrency to its crypto wallet for any reason, or HP is unable to receive the fiat currency, the transaction will be canceled and annulled and Parties shall not be liable for deductions arising from transaction cancellation.
      2. If a transaction is canceled for whatever reason, we are only required to refund the nominal value of the received amount based on the annulled transaction and we shall not be liable for any deductions thereof.
      3. We reserve the right to deny processing or annulling any pending transaction in accordance with the law or as a response to a court warrant or any other request by governing bodies.
      4. We cannot annul any transaction if it is irreversible, in accordance with Articles 2.2.1 and 2.2.2 of these Terms.
      5. Please bear in mind that cryptocurrency transfer may not be real-time. Upon initiating a blockchain transaction, the transfer will not be confirmed for some time. The transfer remains incomplete until the blockchain transaction collects enough blockchain confirmations, as listed in the buyback or sales coupon.
      6. The risk of loss due to the holding of cryptocurrencies can be significant: the price or value of cryptocurrency can increase or decrease fast.
      7. You accept the risk of delaying the transaction for any reason, force majeure, malfunction of the computer system or the internet, etc. You also accept that we are not liable for any damage of procedures arising from or related to such a delay.
      8. You are responsible for the coupon from the moment you receive it, regardless of transaction success. You are required to make sure it does not come to unauthorized persons.
  4. TRANSACTION APPLICATION
    1. To use the Service, you must provide an HP employee with needed information
    2. To complete a transaction, you will be asked to provide:
      • Full name
      • PIN (only for residents of the Republic of Croatia
      • State of issuance of documents
      • Type of identification document (Personal identification card or passport)
      • Number of identification document
      • email address
    3. All information you provide must be complete and accurate in all aspects. You guarantee their truthfulness under criminal and financial liability.
    4. All information you provide is subject to revision and confirmation by our independent associates. You authorize us to – directly or using a third party – (i) carry out all requests we deem necessary to confirm your identity and/or information you provided and undertake any steps we believe are needed, based on the results of such inquiries or reports, including canceling a transaction, for which we shall not be liable. For more about his, read Privacy policy terms.
    5. All persona information you provided shall be stored for a period as prescribed by the law. They are archived and recorded.
    6. Based on compulsory legal regulations and acts, we may refuse to provide the Service. If we are indebted, we can in accordance with internal acts or other enforced regulation: (i) disable user activity, (ii) block and withhold any cryptocurrency or fiat money in the way prescribed by competent authorities. We are not liable for any direct or indirect losses resulting from our adherence to the enforced regulation, guidelines, or instructions by any regulatory body or competent state authority, or any official letter, the law of lien, fees, court warrants, and others if regulated by enforced regulation or non-legislative acts.
    7. Due to numerous factors included in our assessment of a transaction, we reserve the right to reject any request for a transaction or restrict a transaction for any reason, if we deem it necessary.
    8. The highest amount of a cryptocurrency a user can exchange during any 24-hour period is the equivalent value of 14,999.00 HRK (hereinafter Limit). All transactions exceeding said Limit within a 24-hour period will be denied.
  5. SECURITY AND UNAUTHORIZED USE
    1. Only you can use your identity for transaction purposes. You may not reveal your information to any other person.
    2. You are liable for all transactions that use your information
    3. You are liable for maintaining an adequate level of security and control of all applications, passwords, advice, personal identification numbers (PINs) or any other codes use in the Service. Any loss or threat to the aforementioned information and/or your personal data can lead to an unauthorized transaction by third parties and loss or theft of cryptocurrency, all of which you are personally liable for.
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  1. TRANSACTIONS
    1. We reserve the right to confirm and change transaction limits
    2. EC shall not be liable for unauthorized use of account or cryptocurrency wallet of a user
    3. We are unable to cancel or amend any transaction for whatever reason once the transaction has been completed.
  1. TAXES
    1. Sale of cryptocurrencies can be subject to fees and taxes in accordance with enforced regulation.
    2. You are solely liable for taking into consideration if and to what extent tax applies to all transactions related to your cryptocurrency transfer and/or transactions you carry out using the Service. You are liable for collecting, reporting, and paying taxes to competent tax authorities.
  1. PRIVACY
    1. Privacy Protection Policy is an integral part of these Terms, available at https://electrocoin.hr/privatnost.
  1. SERVICE RESTRICTIONS
    1. We can withhold, restrict, cancel the Service (in its entirety or partially) and/or halt a transaction made by a user under the following condition:
      1. if required by a court warrant, judgment, decision, or any compulsory legal act
      2. if we have reasons to believe that your information or Service is used in unauthorized, illegal, unlawful, or fraudulent or criminal activities (or have been before),
      3. if you as a user undertake any action that we believe avoids our control and verification of transaction or user.
      4. if you do not meet the requirements related to Services, including terms of these Terms
      5. for reasons beyond our control.
    2. In case a technical problem causes errors in our system, we can temporarily restrict access to the Service.
  1. USER LIABILITY
    1. You agree to comply with these Terms and use the Service in accordance with the same enforced regulation.
      1. Infringing or aid to infringe any law, statute, ordinance, regulation, or directive of any public body and/or organization by using the Service holds you liable in accordance with applicable regulation, including criminal and misdemeanor laws.
      2. You are forbidden to act as mediator or arbitrator on behalf of third parties when using the Service.
    2. We reserve the right to at any time monitor, inspect, withhold and/or reveal all information needed to meet all applicable laws, regulations, legal procedures, and requests by competent authorities.
  2. MISCELLANEOUS
    1. User complaints related to issued coupons and blockchain transactions will be handled by EC. HP will direct users wishing to file a complaint to EC, complaints related to collection and entry of user data, and payments of fiat money (cash) will be handled by HP.
    2. These Terms (which can be amended) comprise a legal agreement that binds you and persons you have authorized via a power of attorney. Croatian law applies to these Terms and transactions. A local court is competent for disputes arising from these Terms.
    3. You may not transfer this Agreement, any part thereof to another person via a contract or in any other form.
    4. Delays by one party in terms of realizing all rights and legal means pertaining to these Terms or Agreement shall not be seen as waiver thereof and shall not prevent the execution of such rights. Also, failure by any Party to use the rights or legal means in accordance with these Terms in a single case does not waive the right to use the rights or legal means in another case.
    5. If any arbitration, court, or administration body determines that any provision of these Terms is invalid, unenforceable, the invalidity or unenforceability of such a provision shall not impact other provisions of these Terms and all other terms not impacted remain fully enforced.
    6. By accepting these Terms, you agree that any cryptocurrency you use that is related to the Service is solely in your ownership and that you are authorized to carry out transactions using those cryptocurrencies.
      1. All names, logotypes, names of products and services, designs and slogans of the Service are trademarked by their respective owners.
    7. These Terms and Privacy Protection Policy comprise a single and unified Agreement between you and Parties in terms of the Service, and as such replaces all previous contracts, agreements, statements, and warranties, both written and oral, related to the Service.
  3. In case of termination of cooperation between the Parties, EC will ensure that
    • for all valid buyback coupons that have not been cashed users receive a payment via their banking accounts, in accordance with the arrangement with EC, under the condition that users have sent (by email to the address listed in these Terms) the number of the buyback coupon, a copy of an ID shown at HP, and a copy of the current account bank card with IBAN number clear and visible and belonging to the user.
    • For all valid sales coupons that have not been cashed, EC will enable Users to transfer the purchased cryptocurrency by transferring it into their crypto wallet.