TERMS OF MEMBERSHIP
Where appropriate in this Agreement, a reference to a “BeClub Member” shall also mean any person or entity (“Member”), that is a Barteos Account Holder on the Blockchain and is an owner/holder of Barteos digital currency that interacts with any business listed in this website.
The following Terms and Conditions constitute the contract by any person or legal entity (hereinafter referred to as “Member” or “BeClub Member”) and BE PAY AUSTRALIA LIMITED (ACN: 649400313), a registered Not-for-Profit, Social-Enterprise (hereinafter referred to as “BE-PAY”) that operates and governs a Peer-to-Peer De-centralised Payments Platform and digital currency. BE-PAY allows BeClub Members to list their business or advertise assets, products and services for trade with other Members at beshop.com.au website (“website”) and other BE-PAY websites and places like Barteos Trade shows.
BE-PAY manages and governs the BE-SYSTEM in Australia to comply with KYC/AML requirements of Australian Laws and regulations, which is regulated with the requirement to collect personal data from BE-Account holders. Our Data Privacy responsibility to you as a user of the BARTEOS-SYSTEM is outlined below.
PRIVACY OF YOUR PERSONAL & FINANCIAL DATA IS OUR NUMBER ONE PRIORITY
BE-PAY WARRANTS TO KEEP ALL YOUR RELATED PERSONAL DATA AND FINANCIAL TRANSACTIONS MADE ON THE BARTEOS SYSTEM, USING THE BE-WALLET, PRIVATE AND CONFIDENTIAL AND BE-PAY WILL NOT USE, DIRECTLY OR INDIRECTLY, AT ANY TIME NOW OR IN THE FUTURE, ANY OF YOUR DATA FOR ANY COMMERCIAL FINANCIAL GAIN.
THEREFORE, UNLIKE OTHER PRIVATELY-OWNED PAYMENT SYSTEMS, BE-PAY WILL FUNCTION AS A GATEKEEPER AND REGULATOR TO SAFEGUARD YOUR DATA AND THE BE-PAY TRANSACTIONS MADE BY AUSTRALIAN ACCOUNT HOLDERS. BE-PAY WILL ONLY RELEASE DATA TO GOVT AGENCIES AS IS REQUIRED BY AUSTRALIAN LAW LIKE KYC/AML AND ANTI-TERRORISM/CRIMES. ETC
BE-PAY is the Australian country Licensee for the BARTEOS SYSTEM and is a Not-for-Profit, Social Enterprise that governs all Barteos cryptocurrencies that operate on the BARTEOS blockchain related to Australia. BE-PAY operates one Global Authourising Node in the Global Network of Authourisers and one Australian Government-Compliant server.
BARTEOS (“BTE”) is a Dual-State cryptocurrency and Blockchain Technology System that operates on a Govt-Compliant-Ready blockchain for use by any Jurisdiction. acts as a multinational “cryptocurrency” for exchanging between nations. Its financial open-market state may be able to switch to a commercial stable-state (“BTE-AUD”) after it has been listed on open cryptocurrency exchanges, in the near future. Trade Dollars may rise or fall in value depending on the cryptocurrency markets.
DUAL-STATE cryptocurrency means the design and process of how BTE can change from an international exchange currency (Open-State) that can exchange and be traded on open cryptocurrency exchanges, (similar to forex markets), to a stable-state cryptocurrency pegged to a country currency for the trading of Assets, Goods and Services called BTE-AUD.
BTE-AUD or BTE-FIAT is designed to be the stable-state side of BTE pegged to AUD in value and will be able to be exchanged to BTE and visa-versa when BTE is listed in open exchanges.
BARTEOS REWARDS is the Cash-Back Consumer Loyalty Program that gives away BARTEOS BTE-AUD or BTE to propagate BARTEOS into the consumer market and stimulate trading. BeClub Members must use their BARTEOS REWARDS within a two-year period with their customers otherwise they will expire.
FIAT means national currency issued and sanctioned or guaranteed by a national government.
STABLE-COIN means a cryptocurrency asset that seeks to stabilise the price of the “coin” by linking its value to that of a pool of assets, making it a reliable and attractive store of value. A stable-coin has some real key characteristics of ‘money, being a means of payment backed by real-world assets like gold and property.
BE or BE-AUD or BE-FIAT is part of the Barteos stable-coin family of Dual-State cryptocurrency and is designed to be the stable-coin of Barteos backed by a national Reserve in each country independently managed and governed. BE-AUD is generally pegged to AUD in value and will be able to be exchanged to AUD. BE-AUD is scheduled to become available in Australia in the 4th Quarter of 2021 or when the necessary regulatory approvals have been given by the Australian Government. As more countries join the Barteos network and establish their own BE-FIAT Reserves collectively, it can make up a supercurrency called the supranational “BE” coin sometime in future.
RESERVE(s) are the National assets that underpin the value of BE-AUD in Australia.
COUNTRY WALLET is the government regulated multi-account country APP wallet to access all your Barteos Blockchain Accounts and in particular the stable-coins.
GLOBAL WALLET is the multi-account international APP wallet to access your Barteos BTE accounts. The Global Wallet disengages an Australian BE-ACCOUNT Holder to be able to send Barteos once the Australian Country Wallet is released.
BARTEOS.EXCHANGE is the exchange to acquire Barteos found at www.barteos.exchange.
BE-SHOP or “WEBSITE” is the website for shopping with BARTEOS found at www.beshop.com.au.
MEMBER(S) means any person or entity that uses the Barteos System for the exchange of BTE through BE-PAY controlled assets.
BECLUB is a closed membership system for businesses in Australia. BeClub offers business owners privileged benefits that would not normally be found outside of the Membership group, including Barteos Rewards, the use of BeShop, Media specials, Trade Shows, Discounts, bonuses, incentive systems and the use of other websites and technology of BE-PAY.
BARTEOS SYSTEM refers to all the above Definitions in their entirety.
THE BE-PAY OWNERLESS DE-CENTRALISED MODEL
BARTEOS is a Decentralised Autonomous System (called a “DAS” or “Blockchain” or “Internet-of-Money”) and like the Internet can be called a “PUBLIC DOMAIN” or “COMMONS” software.
Therefore, BARTEOS is properly coined as the “INTERNET-OF-MONEY” acting as a “PUBLIC BENEFIT” technology and unlike Private Payment Systems and Barter companies, it requires no permission to open an account other than verifying that you are a legitimate person or business for KYC/AML purposes.
This means that although BARTEOS and the BARTEOS-SYSTEM are ownerless like BITCOIN, they are governed by BE-PAY in Australia to be compliant with Australian law. BE-PAY is not owned and operated by shareholders like other Payment systems, as there are no shareholders in BEPAY, it is not profit-driven, but rather;
BE-PAY has been established as a community-driven fintech initiative, to digitise, stabilise and even grow the value of the Australian Dollar, stimulate economic activity, cut financial costs for business and offer an instant money clearance of local or international exchange. To securely use the latest De-centralised technology for the benefit of every business and person in Australia.
NOTE: ONCE BARTEOS (BTE) LISTS ON AN INDEPENDENT CRYPTOCURRENCY EXCHANGE, IT WILL FLUCTUATE IN VALUE IN RESPONSE TO OPEN-MARKET EXCHANGE CONDITIONS. IT WILL NOT BE SUITABLE FOR THE TRADING OF GOODS AND SERVICES GIVEN ITS FLUCTUATING VALUE. BTE IS OFFERED TO YOU UNDER THE TERMS AND CONDITIONS FOUND ONLINE AT HTTPS://BARTEOS.ORG/BTE-TERMS/ AS PRE-IEO PRICING THAT WILL RAISE ITS VALUE AS EACH MERCHANT JOINS UP UNTIL BTE LISTS ON AN OPEN MARKET EXCHANGE. BTE WILL PROCEED TO LIST ON AN OPEN MARKET EXCHANGE ONCE 20,000 AUSTRALIAN MERCHANTS HAVE JOINED AS BECLUB MEMBERS.
THE MEMBER TAKES FULL RESPONSIBILITY FOR THEIR CHOICE WHEN SWITCHING BETWEEN BTE AND BE-AUD FINANCIAL-STATES OR WHEN TRANSFERRING BTE INTO OPEN-MARKET TRADING EXCHANGES WHEN THEY BECOME AVAILABLE.
NATURE OF INTERNATIONAL PARTIES AND BTE GRANT
BTE AUSTRALIA (“BTE GLOBAL”) is the International Licensor to BE-PAY in Australia and the Manager of the BARTEOS BLOCKCHAIN and the BTE GLOBAL ESTABLISHMENT RESERVE as outlined in the whitepaper found at barteos.org.
BE-PAY HAS BEEN ALLOCATED 500M BTE TOKENS (4% OF GLOBAL CAPPED SHARE) FOR DISTRIBUTION IN AUSTRALIA TO ASSIST BE-PAY TO ESTABLISH THE BE-PAY SYSTEM AND ITS WIDESPREAD USAGE IN AUSTRALIA. BE-PAY HAS ALSO BEEN ALLOCATED A FURTHER 500M BTE “BARTEOS REWARD” TOKENS TO PROPAGATE THE BARTEOS TRADE DOLLAR WITHIN THE AUSTRALIAN CONSUMER MARKET.
THE MEMBER HEREBY AGREES TO BECOME A MEMBER OF BECLUB AS FOLLOWS:
The Member declares that they are a bona fide and legal business that desires to trade with BTE and hereby subscribes to the use of the BARTEOS SYSTEM and the BE-PAY website and services as a BECLUB MEMBER. The Member warrants that it is in compliance with all State, Federal, industry and professional laws and regulations and is a lawful business.
Any use of the BE-PAY SYSTEM to conduct a transaction by a Member whether they are a business entity or a person constitutes acceptance of all terms, conditions, policies and procedures as most recently advertised herein and other advertised policies and procedures adopted by BE-PAY. They apply to all BE-PAY Member’s users and to all transactions facilitated by BE-PAY.
THE BECLUB MEMBERS MAY AGREE UPON A (PART-AUD / PART BTE / PART TRADE DOLLAR) CURRENCY BLEND AND AGREES TO ACCEPT A MINIMUM OF 50% OF THE SELLING PRICE FROM ANY MEMBER OR CUSTOMER IN TRADE DOLLARS.
THE BECLUB MEMBERS MUST ACCEPT 100% OF THE SELLING PRICE IN BE-AUD WHEN THEY ADVERTISE THEIR BUSINESS ON THE BESHOP WEBSITE OR ANY BE-PAY TRADING PLATFORM.
THE MEMBER OF BE-PAY HEREBY ACKNOWLEDGES THAT THE USE OR OPENING OF AN ACCOUNT WITH THE BE-PAY SYSTEM DOES NOT REQUIRE MEMBERSHIP AND OPENING AN ACCOUNT ON THE BE-PAY WALLET HAS NO MONTHLY ACCOUNT KEEPING CHARGES WHATSOEVER.
However, the Member of BE-PAY hereby acknowledges that Membership to BECLUB gives a business Member certain privileges not available to normal account holders like, BONUS BTE and the “REWARDS” loyalty program that is funded by the BARTEOS SYSTEM for the benefit to a Member’s customers when they purchase from them and may include other “try before you buy” offerings.
THE BARTEOS SYSTEM CHARGES USD ONE-CENT ($0.01) PER TRANSACTION FOR THE SENDER AND MAY BE SUBJECT TO REASONABLE CHANGE WITHOUT NOTICE.
Member shall be solely responsible to collect and remit to the appropriate taxing authorities the applicable taxes and shall collect and record these as required by law. Under no circumstances is BE-PAY responsible to pay any taxes on behalf of any Member. Transactions involving BE-AUD are generally treated as taxable income when a business sells its goods and services. For federal, state and local tax purposes, BE-PAY will upon request, report BE Trade Dollar sales to the appropriate government taxing authority if the BE-PAY Merchant systems are utilised when and if they become available.
The declaration and reporting of applicable taxes resulting from transactions rest solely with the Member. Member agrees to indemnify and hold BE-PAY harmless for any actions that BE-PAY takes to comply with federal, state or and local laws.
NATURE OF BARTEOS TRADE DOLLARS
A Member conducts transactions using the Barteos System and payments are made by posting debits and credits to the buying and selling Member’s respective accounts in the form of Barteos cryptocurrency on the Barteos Blockchain.
Barteos Trade Dollars operates as contractually accepted tender between BE-Account holders and/or Members, backed only by the assets, goods and services available within the Barteos Network. Barteos Trade Dollars denote value received for assets, goods or services sold and may be exchanged for other assets, goods or services made available by Members.
BARTEOS may be used only in the manner and for the purposes set forth in this agreement and the Policies & Procedures published by BE-PAY on their website at bepay.com.au/policies that can be changed without notice from time to time at the sole discretion of BE-PAY.
Neither BE-PAY nor Member shall consider BARTEOS as legal tender, securities or commodities. BE-PAY and its affiliated entities disclaim any and all responsibility for the acceptance or negotiability of BARTEOS or for the availability of assets, goods or services from any Member and their source of supply.
UNLESS OTHERWISE ADVERTISED BY BE-PAY, BE-AUD WILL ONLY BE ACQUIRED FOR AUD THROUGH BEPAY AUSTRALIA LIMITED WITHIN YOUR COUNTRY BE-WALLET OR THROUGH YOUR ACCOUNT ACCESSED AT BARTEOS.EXCHANGE.
BE-AUD EXCHANGED THROUGH BARTEOS EXCHANGE FOR AUD, COME WITH FULL 100% AUD EXCHANGE RIGHTS OF EQUAL VALUE TO THE ORIGINAL EXCHANGE.
Member accepts full responsibility when Member borrows or lends BARTEOS from other Members in the Network.
NOTE: ANY BTE OR TRADE DOLLARS ACQUIRED AS A FREE BONUS OR AS BARTEOS REWARD DOES NOT HAVE ANY EXCHANGE RIGHTS.
Member is NOT authorised to sell BARTEOS as a business for cash unless they are an Austrac regulated Exchange Business that complies with all Federal, State and Local laws. Austrac is an Australian Government agency that uses financial intelligence and regulation to disrupt money laundering, terrorism financing and other serious offences.
CIRCULATION OF “BTE” AND “TRADE DOLLARS”
Member acknowledges and grants BE-PAY the right and power to regulate and control the number of BARTEOS BTE and BTE-AUD in circulation within the Network.
SUSPENSION OR TERMINATION
If Member violates any Terms or Conditions of this Agreement or the currently effective Policies and Procedures, BE-PAY may at its discretion immediately terminate Members’ Membership and any of its entitlements and its right to advertise its business at www.beshop.com.au or any other BE-PAY affiliated websites.
Either party may terminate this Agreement upon seven (7) days written notice to the other party. Upon termination, all Membership or service fees outstanding to BE-PAY will become due and payable. No Membership or service fees will be refunded. Any Member with an outstanding loan to BE-PAY must repay the outstanding balance within thirty days of the termination date. Upon Termination, all BE-REWARDS shall cease to become available to the Member and its customers.
ANTI-THEFT AND ANTI-CRIME PREVENTION
Australian accounts using the Australian WALLET can temporarily have their SEND FUNCTION in their BE-Wallet disabled, or their available balance minimised as an anti-theft or anti-crime action pending investigation. As a victim of any crime, there are procedures and costs associated with invoking such action and will be published at bepay.com.au/anti-theft when the Country Wallets are released in Australia.
BE-PAY takes no responsibility if a Member has had their Send Function disabled or their Available Balance minimised but finds an alternative non-authourised way to access their account on the BartEos Blockchain. Any anti-crime systems that are implemented by BE-PAY do not come with any warranties or guarantees of any kind unless stated otherwise in future.
All Membership fees are subject to change as advertised on the BE-PAY website without notice. Membership Plans that expire after a certain period may not exist at the end of that period in the same manner and combination as was available to the Member upon original signup.
All entitlements for “try before you buy” products or services offered as part of any Membership are subject to availability by the respective BE-PAY Partner suppliers. In the case where a supplier fails to supply its products or services promised then BE-PAY will have the right to replace the supplier offering with another supplier that can provide similar products or services within 60 days of written notice. In the event, the BE-PAY cannot find another supplier the Member indemnifies BE-PAY and shall not seek any refunds or discounts, in whole or in part on any Membership Fees paid by the Member.
Fees paid to BE-PAY are non-refundable. If buyers or sellers do not complete a transaction, or if the performance of Members’ obligations to each other is disputed, BE-PAY will not be obligated to refund any fees it has received or be involved in any disputes.
Extra Optional Services provide by BE-PAY are payable and due at the time of purchase and fees due for more than 30 days will be assessed a late fee of $15.00 per month, or 1.50% per month of the unpaid balance, whichever is the greater.
Member shall abide by applicable international, federal, state and local laws or regulations pertaining to exchange transactions. BE-PAY shall not be responsible for any failures on the part of Member to comply with such laws and regulations. Member agrees to indemnify BE-PAY for any action that BE-PAY takes to comply with applicable laws or regulations. The Member of BE-PAY hereby acknowledges that they are over 18 years of age.
NO WAIVER OF RIGHTS
BE-PAY failure or delay in exercising any right, will not operate as a waiver of that right, nor shall the partial exercise of a right preclude any other or further exercise of any right. BE-PAY remedies are cumulative and are not exclusive of any remedies provided by law.
Every item contained in this agreement is separate from every other term herein. If any term should be judged unenforceable, it shall not affect the enforceability of other terms outlined in this Agreement or the Policies and Procedures. If legal action must be taken by BE-PAY, Member shall pay BE-PAY reasonable legal fees, costs, plus interest from the date of default until payment in addition to any other judgment as granted by a court of law or an acceptable arbitration.
REFUND UPON TERMINATION
The Director or the owner of the business that becomes a BECLUB Member hereby guarantees and grants BE-PAY a full refund of any Free BTE given to the Member by BE-PAY for becoming a Member, if the Member ceases to accept BARTEOS from other Members or BE-ACCOUNT Holders within three years from when the Free BTE was given initially to the Member. This shall also apply if the Member becomes insolvent or bankrupt or their Membership is terminated. If the Member does not have the same BTE to refund in whole, then the Member shall refund in AUD currency, in whole or in part, to BE-PAY’s nominated bank account, an amount of equal value to the BTE that was initially given.
WARRANTY OF INFORMATION
Member warrants that it provides all information to BE-PAY in good faith and that such information is accurate to the best of Member’s knowledge.
E-DOCUMENTS AND ELECTRONIC SIGNATURES
BE-PAY and Member mutually agree that e-documents with electronic signatures are binding documents and are accepted as original legally executed documents and signatures.
Member acknowledges that it is not relying on any oral representations concerning this Agreement and that the complete agreement between the parties is contained in the Member Application, this Agreement and the Policies & Procedures.
At its sole discretion, BE-PAY may amend this agreement by placing a notice of the last date of any changes at the Bottom of this Agreement and notifying the Merchant that changes have been made upon logging in to their Be-Account.
BE-PAY may also amend the Policies and Procedures with seven (7) days written notice via e-mail. Any transaction made by Member, which makes use of BE-PAY Tokens after these time frames constitutes acceptance by Member of such change(s) and the agreement of Member to abide by the same.
NO WAIVER OF RIGHT
BE-PAY’s failure or delay in exercising any right, will not operate as a waiver of that right, nor shall the partial exercise of a right preclude any other or further exercise of any right. BE-PAY remedies are cumulative and are not exclusive of any remedies provided by law. BE-PAY reserves the right of final approval of this agreement and may refuse to accept anyone as a Member to advertise their business on the www.beshop.com.au website for any reason it deems necessary.
MEMBER AGREES TO HOLD HARMLESS BE-PAY, ITS OFFICERS, AGENTS, REPRESENTATIVES, ASSOCIATES AND ASSIGNS FROM ANY LOSSES, LIABILITY OR DAMAGES WHICH MAY RESULT FROM MEMBERS’ PARTICIPATION IN ANY TRANSACTIONS, ACTIVITIES, PROGRAMS, PROMOTIONS, OR ADVERTISING, INCLUDING THE COSTS OF LITIGATION AND LEGAL FEES.
DISCLAIMER OF WARRANTY AND LIABILITY
BE-PAY AND ITS LICENSORS MAKE NO REPRESENTATION OR WARRANTY, EITHER EXPRESS OR IMPLIED AND DISCLAIMS ALL LIABILITY, AS TO THE FITNESS, QUALITY, DELIVERY DATE, PRICES OR ANY TERM OF ANY TRADE TRANSACTION WITH ANY PERSON OR ENTITY THAT USES THE BE-PAY SYSTEM. MEMBER AGREES TO INDEMNIFY AND HOLD BE-PAY HARMLESS WITH RESPECT TO ANY CLAIM, DEBT, OR LIABILITY WHATSOEVER, ARISING OUT OF ANY TRANSACTION. MEMBER ACKNOWLEDGES THAT ANY TRANSACTION FACILITATED ON THE BARTEOS BLOCKCHAIN, IN WHICH MEMBER PARTICIPATES IS ENTERED INTO BY MEMBER ON A VOLUNTARY BASIS. MEMBER AGREES TO WAIVE ANY CLAIM, DEBT, OR LIABILITY WHATSOEVER AGAINST BE-PAY OR AFFILIATED ENTITIES BECAUSE OF ANY COMPUTER OR SOFTWARE MALFUNCTION OR ANY MALICIOUS ATTACKS ON THE COMPUTER NETWORK, OUTAGES OF INTERNET AND ANY ACTS OF GOD OR DISASTERS BEYOND ITS CONTROL.
Your Barteos blockchain accounts are not covered by insurance against losses. We will pledge, repledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer or use funds and cryptocurrency assets to counterparties, and such cryptocurrency assets will be exposed to various risks as a result of such transactions. Cryptocurrency is not legal tender and is not backed by the government against fraud or other criminal acts.
Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of cryptocurrency.
Transactions in cryptocurrency are irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable.
The value of cryptocurrency may be derived from the continued willingness of market participants to exchange government-issued currency for cryptocurrency, which may result in the potential for a permanent and total loss of value of a particular cryptocurrency should the market for that cryptocurrency disappear.
There is no assurance that a person who accepts a cryptocurrency as payment today will continue to do so in the future. The volatility and unpredictability of the price of cryptocurrency relative to government-issued currency may result in significant loss over a short period of time. The nature of cryptocurrency may lead to an increased risk of fraud or cyber-attack, including rollback attacks or blockchain reorganizations. The nature of cryptocurrency means that any technological difficulties experienced by BE-PAY may prevent the access or use of a customer’s cryptocurrency. Any Reserves or trust account maintained by BE-PAY for the benefit of its Members may not be sufficient to cover all losses incurred by customers. In light of these risks, you should carefully consider whether holding cryptocurrency is suitable.
CONFLICT/DISPUTES INVOLVING YOUR ACCOUNTS AND MEMBERSHIP
We are not liable to you for errors that do not result in financial loss to you. We may take any action to rectify any errors or any dispute without being liable to you, even if such action causes you to incur fees, expenses or damages.
If the government or third parties make claims against you, or if we receive conflicting instructions from other Members, or if we become involved in or concerned about a dispute between you and another Member or BE-ACCOUNT Holder or the government, we have discretion to act in ways we believe to be appropriate, including by placing a hold on the SEND function of your Wallet until a dispute is settled. You are liable for all expenses and fees we incur for such conflicts or disputes, including internal costs and any Legal fees incurred.
Fraudulent activity, including any attempt to withdraw funds that you do not own, did not transfer into your Barteos Account, or did not purchase, is strictly prohibited and may result in the permanent disablement of the SEND function in your Wallet.. Fraudulent activity includes any attempt to take advantage of errors on the Barteos Systems, applications, or technology platforms. Any errors identified should be flagged to email@example.com for appropriate compensation, where applicable.
LEGAL PROCESS AFFECTING ACCOUNTS
If legal action such as an attachment, garnishment, seizure, liquidation, levy or other state or federal legal process (“legal process”) is brought against your Barteos blockchain accounts, we may refuse to permit (or may limit) withdrawals or transfers from your account until the legal process is satisfied or dismissed. You may also be required to transfer the assets in your Barteos Account at the behest of governmental authorities pursuant to legal and regulatory actions. Regardless of the terms of such attachment, garnishment, levy or other state or federal process, we have first claim to any and all funds in your account.
We will not contest on your behalf any such legal process and may take action to comply with such legal process as we determine to be appropriate in the circumstances without liability to you. If we incur any expenses, including without limitation, reasonable legal fees, in connection with any such legal process, we may charge any expenses and fees to your account or any other account you may have with us without prior notice to you, or we may bill you directly for such expenses and fees. Any garnishment, seizure, liquidation, or other levy against your account is subject to our right of setoff and security interest.
SETOFF AND SECURITY INTEREST RIGHTS
You grant us a security interest in any and all of your Barteos blockchain accounts with us for obligations owing to us or any of our affiliates by any owner of any of your accounts. These obligations include both secured and unsecured debts and debts you owe individually or together with someone else, including debts and obligations under other transactions or agreements between you and us or any of our affiliates.
We may take or set off funds in any or all of your Barteos blockchain accounts, or transfer funds between any or all of your Crypto Interest Accounts, with us or any of our affiliates for direct, indirect and acquired obligations that you owe us or our affiliates, including any balances as a result of not having sufficient funds available or as a result of an erroneous transfer of funds to an address under your control, or a return or other negative balance, regardless of the source of funds in an account.
These rights are in addition to other rights we have to take, transfer or charge funds in your account for obligations you owe us or our affiliates. We may consider these Terms as your consent to BE-PAY asserting its security interest or exercising its right of set-off should any laws governing your account require your consent.
If the law restricts our ability to take, transfer or setoff funds in your account, or if some contributions are protected from attachment, levy or legal process to the extent that you may do so by contract, you waive those conditions and limits and authorize us to apply funds in any or all of your accounts with us to obligations you owe us.
In the event of a dispute between BE-PAY and Member resulting in a judgment entered on behalf of the Member against BE-PAY, Member agrees that BE-PAY shall have the right to satisfy the said judgment in BTE.
This agreement shall in all respects be construed under the laws of the State of New South Wales, Australia.