BitHide ᐉ Software License Agreement

1.1. ‘512-bit encryption’ - Refers to a cryptographic algorithm that uses a key with a length of 512 bits. This level of encryption provides a very high degree of security.

1.2. ‘Administrator’ – the primary person or account owner who has primary control over the use and management of the software. This person has administrative privileges, including the ability to configure settings, manage user permissions, and perform critical functions within the software environment. The exact definition and scope of the principal user's responsibilities may vary depending on the specific version of the software. This person has significant control in the operating environment of the software, but cannot make changes to the underlying program code.

1.3. ‘Audit Rights’ – The Licensor’s right to verify the Licensee’s compliance with the agreement terms.

1.4. ‘Authorized Users’ – Individuals who are permitted to use the software under the Licensee’s control.

1.5. ‘Confidential Information’ – refers to any scientific, technical, technological, production, legal, financial, economic, or other information, including trade secrets and know-how, which has actual or potential commercial value due to its non-public nature and to which there is no free access on legal grounds.

1.6. ‘Effective Date’ – The date on which the agreement becomes valid.

1.7. ‘Encryption key’ – A set of digital data (bits) that is used in an encryption algorithm to convert information into ciphertext.

1.8. ‘Governing Law’ – The legal jurisdiction that governs the agreement’s terms.

1.9. ‘Indemnification’ – Obligations to compensate for certain types of losses or damages.

1.10. ‘Intellectual Property Rights’ – Rights related to creations of the mind for which the Licensor holds ownership.

1.11. ‘Liability Limitations’ – Provisions that limit the Licensor’s responsibility for certain types of damages or losses.

1.12. ‘License fee’ is the payment that the licensee makes to the licensor for the right to use the software. The specifics of the license fee, including the amount and schedule of payments, may be specified on the bithide.io website or in an addendum to this agreement.

1.13. ‘The Licensee’ - an individual or legal entity that is granted the right to use the software under the terms of this agreement. Licensee does not acquire ownership of the software, but has the right to use it under the license, which includes installing, using, accessing and/or integrating the software into its operations.

1.14. ‘The Licensor’ is the party that owns or has the legal right to grant software licenses. Licensor is the creator, developer and authorized distributor of the software and owns the intellectual property rights.

1.15. ‘Maintenance and Support’ – Services provided by the Licensor to support the Software.

1.16. ‘Mnemonic phrase’ (also referred to as a seed phrase or recovery phrase) - is a series of 24 words to back up and restore a cryptocurrency wallet.

1.17. ‘Product Key’ – A unique alphanumeric code used to activate and confirm the right to use software.

1.18. ‘Software’ – The complete set of computer programs and components that make up the BitHide system.

1.19. ‘Term’ – The duration for which the license is granted.

1.20. ‘Termination’ – Conditions under which the agreement can be ended.

1.21. ‘Upgrades/Updates’ – Modifications or additions to the Software that improve its functionality or fix issues.

1.22. ‘Warranty’ – Guarantees provided by the Licensor regarding the Software’s performance.

2.1. The subject of this Agreement is to grant Licensee a non-exclusive, non-transferable license to use the BitHide software specified in this Agreement, subject to the terms and conditions set forth in this Agreement.

2.2. Licensor provides Licensee with the necessary installation files, instructions, and API documentation to integrate the Software with various digital objects.

2.3. Licensee agrees to use the Software in accordance with the terms and conditions set forth in this Agreement, subject to any restrictions, particularly those related to the rights of Administrator.

2.4. To gain access to the software, the Licensor transmits the Product Key of the software to the Licensee in the manner prescribed by this Agreement.

2.5. The Software is authorized for global use, except in jurisdictions where legislation prohibits the use of the Software with its functionality.

2.6. BitHide software cannot be used for illegal activities.

2.7. This license agreement, BitHide Software and Product Key are non-transferable and are provided solely to Licensee, prohibiting sublicensing, resale, or redistribution.

2.8. The parties agree to engage in electronic document management, acknowledging that electronically signed documents under this Agreement shall hold the same legal weight as their physical counterparts. These electronic documents are recognized as valid and enforceable, instrumental in the creation, modification, and dissolution of the parties' rights and obligations stipulated by this Agreement.

3.1. Licensor’s rights:

3.1.1 The Licensor is entitled to obtain from the Licensee any data regarding the usage of the software and any other pertinent information that may contribute to the enhancement of the software. Additionally, the Licensee is obligated to provide any information that may be necessary to fulfill the terms of this Agreement effectively.

3.1.2. The Licensor has the right to timely receive the license fee in accordance with the payment schedule and terms set forth in this Agreement or its annexes.

3.1.3. The Licensor reserves the right to modify the software, which includes making enhancements, adding supplemental features, and updates as deemed necessary. Detailed information regarding such updates, modifications, and any technical maintenance related to the software will be made available and regularly updated on the Licensor's official website at https://bithide.io/blog/category/bithide-updates/

3.1.4. Licensor has the right to terminate the Agreement and terminate Licensee's access to the Software and its updates if Licensee repeatedly violates the terms of the Agreement. Such termination may occur after two or more violations, as well as in any other cases specified in this Agreement.

3.1.5. The Licensor may suspend the Licensee’s and any associated third parties' access to the software temporarily in accordance with the provisions set forth in Paragraph 7.5. of this Agreement.

3.2. Licensor's obligations:

3.2.1. Licensor shall transfer to Licensee the rights to use the Software, subject to the restrictions provided in this Agreement, by transferring the BitHide Product Key. The Product Key is transferred by the Licensee to the Licensor together with installation files, instructions, and API documentation.

3.2.2. Licensor shall provide Licensee with uninterrupted access to the Software, except as specifically provided for in the terms of this Agreement.

3.2.3. Licensor is committed to promptly resolving any technical issues with the software that arise due to their fault, ensuring minimal disruption to the Licensee's use of the service.

3.2.4. The Licensor is responsible for the prompt rectification of any errors or malfunctions in the software that are attributable to them, ensuring the software's reliability and performance integrity.

3.3. The Licensor is not responsible for ensuring the confidentiality of information and/or for restoring any data that the Licensee or a third party has entered the software and stored on the server. However, if technically feasible, Licensor may offer Licensee assistance in ensuring the confidentiality and recovery of such data.

3.4. Licensee's rights:

3.4.1. The Licensee has the right to permanent and uninterrupted access to the software, ensuring the possibility of its use in its business activities to achieve its goals, in accordance with the conditions set out in this Agreement. This does not apply to the conditions stipulated in the Agreement.

3.5. Licensee's obligations:

3.5.1. The Licensee is obliged to timely and fully transfer payment for the use of the software, complying with the terms and conditions specified in this Agreement and its annexes.

3.5.2. The Licensee shall ensure confidentiality of the Product Key transferred to it by the Licensor.

3.5.3. Licensee understands and agrees to keep confidential the mnemonic phrase created when first logging into the BitHide software, recognizing the critical importance of this phrase to the security of and access to the software. Mnemonic phrase recovery is intended to restore access to funds solely in the event of loss of access to the BitHide software. Simultaneous use of different software with the same mnemonic phrase will lead to a conflict.

3.5.4. Licensee agrees to use the software only for its intended purpose, respecting the rights of third parties and adhering to the laws of the countries where BitHide software is used.

3.5.5. The Licensee bears the responsibility for protecting any information obtained from the Licensor under this Agreement. Furthermore, the Licensee is accountable for the security and confidentiality of information while utilizing the Software or its components, extending this responsibility to third-party interactions.

3.5.6. The Licensee understands that the only trusted source for confirming cryptocurrency transactions is the blockchain explorer. Therefore, regardless of the transaction status displayed in BitHide software, the licensee undertakes to check the transaction status on the blockchain before making any decisions or making claims.

3.5.7. The Licensee is responsible for ensuring that the use of the software complies with all relevant personal data protection laws. This includes securing the necessary consents for processing personal data as required by such legislation.

4.1. The Licensor provides the Licensee with a product key, signifying the transfer of the right to use the software. This key as well as all necessary installation files, instructions and API documentation will be sent to the e-mail address specified by the Licensee or other communication channel agreed between the Parties, which will allow the Licensee to access the software and integrate it into its systems.

4.2. Any actions performed using the Software, accessed with the Licensee's Product Key, are deemed to be executed by the Licensee. The Licensee bears sole responsibility for these actions and any resulting consequences.

4.3. The Licensor makes no warranties that the Software will be uninterrupted or error-free, nor does it ensure that the Software's functionalities will meet the specific requirements of the end users, including the Licensee and any third parties. The Licensor explicitly disclaims all express or implied warranties, including but not limited to, non-infringement of third-party rights, merchantability, or fitness for a particular purpose.

4.4. The Licensor is exempt from any liability for direct, incidental, special damages, fines, lost profits, savings, or data loss incurred by end users, including the Licensee and third parties, even if such potential damages were previously communicated. Additionally, the Licensor is not liable for any claims by individuals or organizations related to the use of the software, irrespective of the legal basis of the claim, including negligence.

4.5. The Licensor disclaims any liability for actions taken by the Licensee in their capacity as an end user, which may impact third parties.

4.6. Licensor provides technical support for the software, which the Licensee or any authorized third parties can obtain by directly contacting the technical support service through a dedicated Telegram chat.

5.1. The specifics of the pricing and payment process are established in the Appendix to this Agreement, which provides detailed information regarding the cost structure and the terms of payment for the use of the software.

5.2. The complete financial obligation under this Agreement equates to the sum of all payments as detailed within the Agreement and its appendices.

6.1. Prohibitions for Licensee and Sublicense Requirements:

6.1.1. Unauthorized Use: The Licensee must strictly adhere to authorized usage of BitHide software, ensuring compliance with the licensing agreement and applicable legal and ethical standards.

6.1.2. Distribution Restrictions: The Licensee is prohibited from unauthorized distribution, including copying, sharing, selling, or granting access to third parties without authorization.

6.1.3. Modification and Reverse Engineering: Direct modification, adaptation, or reverse engineering of the software is strictly forbidden. The Licensee must not attempt to alter the software or derive its source code.

6.1.4. Legal Compliance: The Licensee agrees to use the software legally, avoiding any actions that breach the license terms or infringe on intellectual property rights. This includes refraining from any activity that violates laws or infringes on the rights of others.

6.2. These prohibitions are mandatory for the Licensee and must be included in any agreements with third parties. Violations may lead to legal action and termination of the software license. The Licensee is granted the right to integrate the software into their own services and websites, provided that such integration does not alter the software’s original functionality. The Licensee may carry out this integration directly or by engaging with third parties for assistance.

7.1. Should any party fail to fulfill or improperly fulfill the obligations outlined in this Agreement, they shall bear the repercussions stipulated within this Agreement. Moreover, the defaulting party is mandated to indemnify the aggrieved party for all resultant losses, consistent with the conditions described in this Agreement.

7.2. A breach of this Agreement occurs when a party fails to meet their contractual duties or carries them out inadequately. Such breaches encompass actions that contravene the explicit terms set forth within this Agreement.

7.3. The parties to this agreement will not be held accountable for breaches of their obligations if such breaches occur through no fault of their own. A party will be deemed not at fault if it can demonstrate that it has made all reasonable efforts to fulfill the obligation appropriately.

7.4. For late payment of the License Fee, the Licensee shall receive a daily penalty in the amount of 0.1% of the outstanding amount.

7.5. After 20 days of delinquency, Licensor may suspend access to the Software and License starting on the 21st day without prior notice and continue the suspension until the debt is paid.

7.6. If the arrears exceed 30 days, Licensor reserves the right to unilaterally terminate the Agreement as of the 31st day without further notice.

7.7. The payment of any penalties or fines incurred does not exempt the parties from fulfilling their contractual obligations as set out in this Agreement.

7.8. The parties agree that in addition to the limitations of liability provided for in this Agreement, Licensor shall be released from liability for any problems arising outside of its control, as follows:

7.8.1. The Licensor will not be held liable for any potential harm or data loss that may occur due to the Licensee's use, misuse, or inability to use the Software, whether such incidents involve the Licensee directly or third parties.

7.8.2. For failure or poor-quality operation of the software, if the Licensee and/or third parties have made changes (integration, adaptation) to the software, or such failure and poor-quality operation of the software is associated with incompatibility with the hardware or other software of the Licensee or third parties.

7.8.3. For any actions of the Licensee relating to the use of the software.

7.8.4. The Licensor assumes no responsibility for the security and confidentiality of the seed phrase, as it lacks access to this sensitive information. It is the explicit duty of the Software Administrator to ensure the seed phrase's privacy and protection.

7.9. Licensor shall not be liable for any unavailability of the Software unless such unavailability is due to Licensor's actions or routine maintenance of the server on which the Software is located.

7.10. The Licensee shall be fully responsible for its actions regarding the use of the software.

7.11. The Licensor shall not be responsible for the confidentiality of the information and the possibility of recovering lost data from the Licensee and any third parties that were introduced by the Licensee into the software and stored on the server. At the same time, the Licensor may assist the Licensee in ensuring the confidentiality of the information and in restoring lost data that was entered by the Licensee in the software and stored on the server, only if Licensor has the technical capability.

8.1. For any disputes arising from the performance of obligations under this Agreement, the Parties commit to seek resolution through amicable negotiations.

8.2. If a mutual resolution is unattainable, the matter will be resolved according to the prevailing laws of St. Vincent & the Grenadines, through legal proceedings in its courts.

9.1. The Parties shall be released from liability for partial or full non-fulfillment or improper fulfillment of obligations under this Agreement, if it occurred due to force majeure (fires, floods, earthquakes, natural disasters, military actions, epidemics, and other force majeure circumstances), and if these circumstances directly affected the fulfillment of the Agreement. In this case the fulfillment of obligations shall be prolonged for the period during which these circumstances were in force.

9.2. If force majeure circumstances continue for more than three months, each of the Parties shall have the right to refuse further fulfillment of obligations under this Contract. In this case, the Contract shall be deemed terminated from the moment of receipt of the relevant notice.

9.3. The Party that cannot fulfill its obligations under this Agreement shall not later than five days from the date of occurrence of such circumstances notify the other Party in writing of the occurrence of force majeure and termination of fulfillment of its obligations under this Agreement.

9.4. Failure to notify or untimely notification of the occurrence or termination of force majeure circumstances shall deprive the Party of the right to refer to them.

10.1. The Parties agree to maintain the Confidentiality of any Information received from the other Party during the execution of this agreement. This includes information in possession, use, or disposal of the Licensor and the Licensee with respect to each other. The Parties must provide consent for the dissemination of confidential information, according to the agreed-upon terms and conditions.

10.2. In addition to the information described in Paragraph 1.5. and Paragraph 10.1. of this Agreement, confidential information includes, but is not limited to, information about:

10.2.1. structure of the business entity, the Licensor or the Licensee and its clients.

10.2.2. the level of income and debt obligations arising in connection with the fulfillment by the Parties of their obligations under this Agreement to each other.

10.2.3. methods of studying the market of goods/services.

10.2.4. information about clients, employees and managers, partners, and competitors, including their personal data.

10.2.5. This agreement and any annexes, additions, or amendments to it, signed by the Parties.

10.3. Trade secrets of the Licensee and Licensor and their clients shall mean the following information about the Licensee and Licensor: terms of agreements (contracts), information about counterparties, information about negotiations, databases, etc., which became known to the Parties to this Agreement by any means. Commercial secret is confidential information.

10.4. Information the disclosure of which is required under the applicable laws of the country in whose jurisdiction the Parties to this Agreement are located shall not be confidential information.

10.5. The Parties undertake not to disclose all Confidential Information obtained by them in the course of execution of this Agreement and use it only with their consent and in the interests of each other. The Parties undertake to do their best to preserve the Confidential Information from encroachment of third parties.

10.6. In case of unlawful disclosure of Confidential Information, the guilty Party is obliged to compensate the other Party for the losses incurred as a result of disclosure of information in full.

10.7. The Parties are obliged to comply with the rules on non-disclosure of confidential information and trade secrets also for a period of one hundred years after the termination of this Agreement.

10.8. Confidential Information may be disclosed with the prior written consent of the Party that owns the information or in other cases provided by the legislation of the country of the Party. In any case, the Parties shall notify each other of the need to disclose Confidential Information at the request of government authorities.

11.1. By accepting the Product Key for the software, the Licensee acknowledges their full understanding and acceptance of the risks involved in using the software for cryptocurrency processing activities.

11.2. The Risk Statement is a description of the potential risks associated with using the Software for Licensee's business operations or when offering services to others. But it does not exhaustively cover all possible risks of the Licensee.

11.3. The Risk Disclosure Statement is provided to inform you about the inherent risks involved with the software; it is not meant to deter you from purchasing or using it.

11.4. The objective of this Risk Disclosure Statement is to inform the Licensee about the primary risks involved in using the Software, to ensure they are aware of these risks before proceeding.

11.5. Licensee understands and accepts that Licensor is not responsible for and does not control certain aspects of the use of the software and, therefore, cannot be held liable for them. Some aspects for which the Licensor is not responsible are set out below:

11.5.1. The Licensee may experience issues such as failures, interruptions, errors, or delays in processing digital currency transactions while using the Software.

11.5.2. The potential risks associated with hardware or software malfunctions, as well as internet connectivity issues, which could affect the use of the Software.

11.5.3. The risk of malware potentially infecting the Software or their server, which could impact the software's functionality and data security.

11.5.4. There is a possibility of unauthorized third parties accessing sensitive information on the Licensee's server where the Licensor's software is installed. This information could include, among other things, wallet addresses.

11.5.5. The Licensee must be aware of potential risks associated with unforeseen vulnerabilities or changes in relevant blockchain networks, which could affect the software's performance or security.

11.6. The Licensee agrees to absolve the Licensor of any responsibility for a range of potential losses, damages, or claims. This includes, but is not limited to:

11.6.1. The Licensee acknowledges that the Licensor is not liable for errors made by the user. This includes issues like forgotten passwords, transactions made incorrectly, or digital asset addresses entered inaccurately.

11.6.2. The Licensee acknowledges that the Licensor cannot be held liable for any server malfunctions or data losses.

11.6.3. The Licensee recognizes that the Licensor is not accountable for any instances of unauthorized access to the Software.

11.6.4. The Licensee acknowledges that the Licensor cannot guarantee the Software is free from bugs or errors. It is understood that such issues are a possibility, and the Licensor's liability for them is limited as per the terms of the Agreement.

11.6.5. The Licensee recognizes that the Licensor is not to be held responsible for any unauthorized activities by third parties, which can include, but are not limited to, the deployment of viruses, phishing attempts, hacking, or other cyber-attacks targeting the software.

11.6.6. The Licensee acknowledges their responsibility to maintain the confidentiality of their wallet addresses and private keys. The Licensor shall not be liable for any unauthorized use resulting from the Licensee's or any third party's failure to secure these.

11.6.7. The Licensor is not responsible for any disruptions or interruptions in data transfer to or from the Software, or for any malicious software such as bugs, viruses, trojans, worms, etc., introduced by third parties.

11.6.8. The Licensor is not responsible for situations where the Licensee is unable to access the Software or functions of the Software.

11.6.9. The Licensor is not accountable for issues related to delayed processing of data, errors in data processing, or cases where data is incomplete or lost.

11.7. The Licensor shall not be held responsible for any kind of damages or losses, be they direct or indirect, that might arise from using the Software. This includes, but is not limited to, financial losses such as lost profits, interruptions to business, or any other non-physical losses.

11.8. Under no circumstances will the Licensor's total liability for all damages to the Licensee surpass one hundred U.S. dollars (USD 100) or its equivalent.

11.9. The Software is given to the Licensee without any guarantees, 'as is' and 'as available'. The Licensor does not promise that the Software will always be accessible, function without interruptions, be timely, or be free from errors.

11.10. Any information or advice given by the Licensor, their employees, contractors, or partners, whether verbal or written, does not create any liability or warranty beyond what is explicitly stated in the Agreement.

11.11. Licensor may make changes to the Software at any time without prior notice. Licensee is responsible for downloading and installing these updates. If Licensee does not install the latest version of the Software, Licensee is solely responsible for any problems that arise.

12.1. By checking the box next to the word ‘I accept the terms and conditions of the Offer’, the Licensee agrees to the terms and conditions of this Agreement. This means that the Licensee understands all items set forth in this Agreement and agrees to its terms and conditions for execution by the Parties.

12.2. The Agreement will become effective once the Licensee selects 'I accept the terms of the Offer' and will remain in force indefinitely until the Licensor issues a new version of this Agreement. It will continue to be in effect until all outstanding obligations are fulfilled.

12.3. Either Party may terminate this Agreement by providing written notice to the other Party at least thirty calendar days prior to the termination of this Agreement.

12.4. The Licensor reserves the right to modify the terms and conditions of this Agreement. Any changes will be posted on the Licensor's website and within the Software.

12.5. The Agreement may be terminated by mutual agreement of the parties. Unilateral termination (refusal) of the Agreement is possible only in the cases provided for by this Agreement.

12.6. The Agreement can be ended by either party. The Licensor or Licensee must inform the other at least 30 business days ahead if they decide to end the agreement on their own.

12.7. In cases not provided for by this Agreement, the parties shall be guided by the rules of the legislation of St. Vincent & the Grenadines, as well as by business practices usually applicable to similar legal relationships.

12.8. After the acceptance of this Agreement, all former discussions, communications, provisional arrangements, and intentions related to this agreement become null and void.

12.9. The Licensee affirms that they have carefully read and comprehended the terms of this Agreement. The Licensee acknowledges that the Agreement's provisions are clear and that it has been entered into freely and willingly by both parties, with the intent of achieving mutual economic benefits.

12.10. Each Party to this Agreement is responsible for the accuracy of their provided information, such as contact and payment details, tax information, etc. They also assume the risks if they provide incorrect details. Additionally, they must promptly inform the other Party about any changes to this information to avoid potential issues.