Terms of Service

Chapter 1. General Terms

Article 1 (Purpose)
Herein Terms of Service aims to stipulate basic matters such as rights, obligations, responsibilities, conditions, and procedures between the Company and Users (hereinafter referred to as the “User”) in relation to the use of LEDGIS Wallet Service (hereinafter referred to as the “Service”) services provided by IBCT (hereinafter referred to as the “Company”).

Article 2 (Definitions)
The following are the definitions of the words used in Terms of Service.

① Service: A blockchain based smartphone wallet service which allows free access of a User’s terminal to a solution service that provides a blockchain infrastructure service including a server, storage, DB, network and the like, and a blockchain IT solution
② Mobile App: A mobile application where the Company's services are provided
③ User: An individual person or corporation or public institution, and the like that access the Service of the Company, sign up for a contract for usage with the Company according to the Terms of Service, and use the Service provided by the Company
④ Username: The combination of letters and numbers or a User’s email address which a User decides and the Company approves for the identification of the User and use of the Service
⑤ Public Key: A unique identification value created in a 1:1 correspondence with Private Key, used to identify users on blockchain and for encryption
⑥ Private Key : A unique identification value generated in the process of using the service by user, a key used for encryption in a 1:1 correspondence with the Public Key (including and not limited to the mnemonic seed phrase)
⑦ User Information: The information (The information as in Subparagraph 1 of Article 3 in Framework Act on National Information, including the personal information and credit information if the User is an individual) that a User stores or manages in the Service of the Company
⑧ Business Day: A business operation day when banks in South Korea are open for business
⑨ Service Fee : When a user uses the send function of the service that sends coins to other users, the service fee is generated and the company receives it from the user
⑩ Push Notification Service: A service in which the company sends a message to the user's terminal by utilizing the data communication function of the mobile device notification service

Article 3 (Revision of Terms)
① The contents of these Terms of Service are posted on the screen of the service or notified by other means. The Terms are applied to services provided when a User accesses and uses the service of the Company and signed the service contract.
② The Company can revise the Terms through a reasonable method such as publishing the revised Terms on its service website. In this case, the Company specifies the effective date while posting details at least 15 days prior to when the revised Terms become effective and notifies Customers through its service website. If the revision of terms to be unfavorable to users, it will be notified 30 days prior to the effective date.
③ If the User does not clearly refuse the amendment within 7 days after receiving announcements or notifications of the revised Terms from the Company as specified in the preceding paragraph while the Company also notifies the User that non-response to the amendment within 7 days would be regarded as agreement, then it is regarded that the User has agreed to the revised Terms.
④ User may terminate the contract of use if the User does not agree to the application of the revised Terms.
⑤ In principle, these Terms of Service shall be applied from the date the user agrees to these terms until the termination of the contract of use pursuant to Article 9 of these terms and conditions. However, some provisions of these Terms of Service may remain valid even after termination of the contract of use.
⑥ Matters not stipulated in these terms and conditions shall be governed by the relevant laws or services operating policies and rules.

Chapter 2 Use of Service

Article 4 (Contract Establishment)
① An username is required to sign up for the Service.
② The service use contract is established when the user agrees to the Terms of Service, and then the company confirms and approves it.

Article 5 (Restrictions)
① In principle, the company approves the applicants' signup of services pursuant to Article 4. However, in each of the following cases, the company may withhold or refuse to accept the consent until the case is resolved.
- The User under the age of 19 tries to sign up
- The User intends to sign up using another person's name or e-mail address
- If there is no realistic room in the capacity of the service provider
- If it is deemed that there is a problem with the technical part for providing services
- If the Company recognizes financial and technical necessity
- The User who has received a measure to suspend the use of services from the company, unilaterally terminates the service use contract and re-apply for signup during the period of the measure
- The User violates other relevant laws and regulations or the standards set by the Company, such as detailed guidelines, etc
② The User is found to have signed up to the service in violation of the above paragraph, the company may immediately suspend the User's use of the service or impose appropriate restrictions.
③ If the Company recognizes financial and technical or business-related necessity, the company may withhold the approval of service sign-up until the cause is resolved.

Chapter 3 Fees and Management

Article 6 (Service Provision)
① The Company provides services such as sending coin and management for User. The User can download and install services from the smartphone's application store, install them directly on their PCs, or access web pages to use the service.
② The Company can provide an updated version of the software needed for better service. Software updates include adding important functions or removing unnecessary features.
③ The Company can display various notices, management messages, and other advertisements related to the use of the service within the service. However, in the case of sending advertising information, it can only be sent if it is agreed by User in advance.

Article 7 (Change and Termination of Service)
① The Company does its best to provide service 24 hours, 365 days a year, non-stop. However, in each of the following cases, all or part of the service may be restricted or suspended.
- In case of regular or temporary maintenance and repair of service
- In case of disruption to normal service due to power outage, equipment failure, or excessive usage
- In case all or part of the service cannot be maintained due to various circumstances of the company such as government orders/regulations
- In case of force majeure, such as other natural disasters or national emergencies
② In case of service interruption according to the preceding paragraph, users are notified in advance through the mobile app and website. However, this is not the case if prior notice is not possible due to reasons that cannot be predicted or controlled by the Company (Disk or server failure that's not because of the Company's negligence, system down, etc.). Even in this case, the Company will restore the service as soon as the situation is back to normal.

Article 8 (Service Fee)
① User uses a sending service that sends coins to other users, a service fee is charged.
② Already charged service fee cannot be returned to the User for any reason.

Article 9 (Obligation of User)
① User should not engage in the following acts.
- The act of writing false information, stealing or illegally using another person's account and password, using another person's name, or performing text message (SMS) authentication without the name owner's permission.
- The act of copying, distributing, or commercially using information obtained using the Company's service information without prior consent from the Company.
- The act of sending advertisement information or spam mail against information that may interfere with the operation of the service or the stable operation of the service, or against the recipient's explicit refusal to receive or without the recipient's explicit consent
- The act of copying, modifying, distributing, selling, transferring, lending, collateralizing, or allowing others to use the service or part of the software included therein without the consent of the Company, reverse engineering the software, or attempting to extract the source code, etc. Duplicate, disassemble, imitate, or otherwise modify the Service
- The act of impersonating others
- The act of distributing false information for the purpose of causing damage, such as giving property benefits to oneself or others or causing damage to others.
- The act of posting information (including computer programs) prohibited by relevant laws and regulations.
- The act of posting or sending an e-mail, message and pretending to be an employee or an operator from the Company or affiliated company, or by stealing another person's name.
- The act of posting or sending by E-mail, message, etc., data containing software viruses or other computer codes, files, or programs that may interfere with or destroy the normal operation of computer software, hardware, and telecommunications equipment.
- The act of violating the detailed guidelines for services provided by the Company, such as other current laws, these terms and conditions and operating policies.
② User cannot transfer or donate their rights to someone to use the service or cannot provide it as collateral.
③ If the User fails to comply with all relevant laws, conditions, or policies, the Company may investigate violations of the User's service and may temporarily or continuously suspend, re-signup or re-use of the service.
④ In principle, restrictions on use are limited from temporary restrictions to permanent restrictions depending on the accumulation of violations. But User may be permanently restricted immediately regardless of the degree of accumulation of violations if User causes danger or damage due to obvious illegal acts prohibited by relevant laws or infringement of the rights of others.
⑤ User must save the private key provided by the service in a separate device or place.
⑥ If the User loses the private key and fails to use the service, the Company cannot recover the User's account. The Company is not responsible for any damage to users caused by this incident.

Article 10 (Halt or Termination of Service by User)
① If the User deletes the mobile app from the User's device and the company finds out, the Company considers it a service suspension.
② If the service is suspended, all data, including personal information, will be deleted except for keeping some of the user's information in accordance with relevant laws and the Company's personal information processing policy. However, since information recorded on blockchain cannot be technically deleted. But even if the use of the service is stopped/discontinued, information on blockchain is not deleted because of its characteristics.
③ Even if the service is suspended, the User can re-apply for the contract of use with the Company's service again by reinstalling the mobile app. At this time, only if the Company retains the User information without deleting it, it can be retrievable for the User's previous information. However, if the User terminates the service contract while the use of the service is suspended due to non-compliance with the relevant laws, these terms and conditions and detailed guidelines, applying for the service contract again may be getting into a time limit for service signup.

Article 11 (Protection of Personal Information)
Handling of users' personal information safely is the most important thing for the Company.
The User's personal information is used only within the purpose and scope agreed by the User for the smooth provision of services.
The Company does not provide the User's personal information to a third party unless the User agrees otherwise or in accordance with the relevant laws..
The service does not record users' personal information that can identify users on blockchain and faithfully fulfills all personal information protection obligations in accordance with personal information protection laws.
For details on how the Company handles Users' personal information, please refer to the personal information processing policy.

Chapter 4 Others

Article 12 (Damages)
① The Company does not make any arrangements or guarantees for specific matters not specified in these terms and conditions regarding the service to the extent permitted by relevant laws and regulations. In addition, the company shall not be liable for damages incurred by Users.
② The company will compensate the user for damage in accordance with these terms and conditions and related laws and regulations if the user suffers damage due to the Company's negligence. However, the Company is not liable for the maximum extent permitted by governing law for any loss or damage that occurs in association with the following, even if such event is foreseeable.
- Force majeure such as natural disasters or wars
- The User’s intention (including deliberate negligence), omission or negligence (including, but not limited to the case where The Company is not responsible for User losing private key)
- Failure of telecommunications services provided by a service provider other than the Company
- Damages caused by a third party's illegal access to or use of the Company's server
- Damages caused by a third party interrupting transmission to or from the server of Company
- Damages caused by a third party transmitting or distributing malicious programs
- Damages caused by omission, destruction, etc. of transmitted data, damages incurred in the process of using the service by a third party, such as defamation, etc.
- And other damages that have nothing to do with the Company's fault
③ The Company is not responsible for the loss of revenue expecting User using the service. In particular, the Company does not take any responsibility for the User's transaction or purchase of crypto assets on the Service.
④ Unless the Company is at fault, the Company is not obligated to intervene in disputes arising from Service between User or and third parties, and is not liable to compensate for damages caused by them.

Article 13 (Notification to User)
When the notification should be sent to all Users, the Company may post the notification on the service website for 7 days or more. Even if it has a significant impact on users, it will be posted on the mobile app notice.

Article 14 (Dispute Resolution)
If a dispute arises between the Company and User in relation to the use of the service, the Company will sincerely consult to resolve the dispute. If it is still not resolved, User may file a lawsuit in a court of competent jurisdiction under the Korea's Civil Procedure Act.

Supplementary Provision
This Terms of Service V.1.0.0 will be effective from August 1, 2021.