This Bitunix Futures Services Agreement (this “Agreement”) shall apply to all Futures Accounts opened and maintained with Bitunix as well as all Futures Trading Services provided by Bitunix to you (as each term is defined below). If any Futures Account is opened or maintained subject to some other terms (“Other Agreement”), then, unless otherwise expressly stated, this Agreement shall be deemed supplemental to such Other Agreement. Your access to and use of the Futures Trading Services shall constitute your agreement to the terms hereof.
All capitalized terms and references used in this Agreement that are defined and construed in the Bitunix Terms of Use (the “Terms of Use”) but are not defined or construed in this Agreement shall have the same meaning and construction in the terms of this Agreement. For the avoidance of doubt, where a term is defined both in the Terms of Use and in this Agreement, for the purposes of this Agreement only, the definition in this Agreement shall prevail.
The terms in this Agreement shall be supplemental to and are to be read together with the Terms of Use. In the event of any conflict or inconsistency between the terms in this Agreement and the Terms of Use or the terms of this Agreement and the terms of any Other Agreement, the terms in this Agreement shall prevail with respect to the services contemplated hereunder unless expressly stated otherwise.
This version of this Agreement shall replace and supersede all previous versions of this Agreement that may have been accepted by you or otherwise made available on the Platform.
1. Definitions and Interpretation
1.1. The following definitions are applicable to the terms of this Agreement:
“USDT-M Futures” refers to futures contracts that are quoted, margined and settled in stablecoins including Tether USD(USDT), and/or any other stablecoins that Bitunix may determine from time to time in its sole discretion).
“Confirmation” refers to written confirmation (including email or other electronic means from which it is possible to produce a hard copy) of the specific terms of a Transaction entered into by you pursuant to the Futures Trading Services.
“Digital Assets” refers to a digital representation of value or rights which may be transferred and stored electronically, using distributed ledger technology or similar technology, including, but not limited to, cryptocurrencies, stablecoins, non-fungible tokens and tokenized derivatives of any other digital asset.
“Funding Fees” refers to periodic payments that apply to Perpetual Futures Contracts that are either paid to you or owed by you depending on whether you are holding a long or short position in the relevant Digital Assets and are based on the nominal value of the positions and the applicable Funding Rate Funding Fees are intended to ensure the Perpetual Futures Contract price aligns with the prevailing spot price.
“Funding Rate” refers to the rate used to determine the applicable Funding Fees payable in respect of Perpetual Futures Contracts.
“Funding Times” is as defined in Clause 6.6 of this Agreement.
“Futures” refers to USDT-M Futures or any other futures contracts that Bitunix may allow at its sole discretion to be traded on the Platform.
“Futures Account” refers to an account maintained or to be maintained by Bitunix for you for the purpose of receiving the Futures Trading Services.
“Futures Account Information” is as defined in Clause 9.1 of the Agreement.
“Futures Trading Rules” is as defined in Clause 2.1 of this Agreement.
“Futures Trading Services” refers to all services relating to Transactions in Futures, whether provided through the Platform or otherwise.
“Initial Margin” in respect of a Transaction, shall be the minimum amount of Margin that Bitunix may from time to time in their sole discretion determine is required to be deposited in your Futures Account in order to open a leveraged position in respect of that Transaction.
“Interest Rate” is as defined in Clause 7.7 of this Agreement.
“Last Price” refers to the latest transaction price that the Futures contract in question was traded at on the Platform.
“Leverage Ratio” refers to, with respect to a Transaction, the quotient obtained by dividing the Mark Price of the Transaction by the value of the Margin held as security for your obligations under such Transaction..
“Liquidation” is as defined in Clause 5.1(d) of this Agreement.
“Liquidation Level” refers to (i) in the case of Cross Collateral Services, the LTV Ratio or (ii) in the case of a Transaction, the Leverage Ratio, in each case as prescribed by Bitunix from time to time in the Futures Trading Rules which, if reached will result in Bitunix selling or disposing of any or all Collateral or Margin (as applicable) to satisfy the Required LTV Ratio or Margin Requirements (as the case may be).
“Liquidation Price” refers to the Mark Price at which Liquidation occurs. For the avoidance of doubt, the Liquidation Price as quoted by Bitunix on the Platform is for reference only and shall not be binding on Bitunix.
“Loss” refers to any and all loss, damage, costs, charges and/or expenses of whatsoever nature and howsoever arising, including without limitation legal fees on a full indemnity basis, cost of funding and loss or cost incurred as a result of the terminating, liquidating or re-establishing of any hedge or related trading position, loss of profit, loss of revenue, loss of opportunity, consequential, unforeseeable, special or indirect damages or expenses.
“Maintenance Margin” in respect of a Transaction, shall be the amount of Margin that Bitunix may from time to time in its sole discretion determine to be required to keep the relevant leveraged position in respect of the applicable Transactions open.
“Manifest Error” refers to any error, omission or misquote (whether an error of Bitunix or any third party) which is manifest or palpable, including a misquote by any representative of Bitunix taking into account the current market and currently advertised quotes, or any error or lack of clarity of any information, source, commentator, official, official result or pronunciation. The fact that you may have entered into, or refrained from entering into, a corresponding financial commitment, contract or trade in reliance on a Transaction entered into through the Futures Trading Services (or that you have suffered or may suffer any loss whether direct, indirect, consequential or otherwise) is deemed irrelevant as a factor and shall not be taken into account in determining whether a situation amounts to a Manifest Error.
“Margin” in respect of Transactions means any Digital Assets of the type that Bitunix has specified it accepts to satisfy Margin Requirements, that are deposited with or held by or on behalf of Bitunix in your Futures Account as security or credit support for your obligations under suchTransactions.
“Margin Balance” refers to the sum, from time to time (as determined by Bitunix in its sole discretion) of: (i) Margin held in your Futures Account; and (ii) any Unrealised P/L connected to your Futures Account. Information as to your Margin Balance from time to time is made available through the Platform.
“Margin Requirements” refers to any Initial Margin and/or Maintenance Margin required to open and/or maintain a position with respect to a Transaction, as specified by Bitunix from time to time.
“Mark Price” in respect of USDT-M Futures, means the fair value of the relevant Futures, as calculated pursuant to the methodology set out in the relevant Futures Trading Rules in respect of the Futures Trading Rules in respect of USDT-M Futures.
“Order” refers to any offer to enter into a Transaction, or any of your instruction, request, application or order in relation to the Futures Trading Services (including without limitation limit orders, market orders, stop limit orders, as further described in whatever form and howsoever sent, given or transmitted by you or on your behalf to Bitunix or which Bitunix reasonably believes to have been sent, given or transmitted by or on your behalf, including any instruction, request or order to revoke, ignore or vary any previous offer, instruction, request application or order.
“Perpetual Futures Contracts” refers to USDT-M Futures without a set expiry date.
“Platform” refers to the digital platform made accessible to you via any website, page, feature, or content owned or operated by Bitunix, any mobile application developed or provided by Bitunix or any API made available to you or third-party applications relying on such an API, in each case that enables you to use or otherwise access the Bitunix Services, or by such other means as Bitunix may prescribe from time to time for the use of Bitunix Services.
“Proprietary Information” is as defined in Clause 14.7 of this Agreement.
“Required LTV Ratio” refers to the [maximum] LTV Ratio that Bitunix has determined in its sole discretion can be maintained with respect to any Cross Collateral Loan before triggering a Cross Collateral Liquidation.
“Technology” is as defined in Clause 14.6 of this Agreement.
“Third Party Applications” is as defined in Clause 14.3 of this Agreement.
“Third Party Licensors” is as defined in Clause 14.5 of this Agreement.
“Trading System” is as defined in Clause 14.5 of this Agreement.
“Transaction” refers to any transactions in respect of Futures that Bitunix may from time to time permit to be carried out with respect to your Futures Account.
“Unrealised P/L” refers to the profits that have not yet been realized on your open Transactions before closure or expiry minus (ii) the losses that have not yet been realized on your open Transactions before closure or expiry
1.2. The headings are inserted for convenience only and shall not affect the construction of this Agreement. Expressions in the singular form shall include the plural and vice versa, and all references to the masculine genders shall include the female and neuter genders and vice versa.
1.3. The words “include” or “including” shall be deemed to be followed by “without limitation” or “but not limited to” whether or not they are followed by such phrases or words of like import, and “otherwise” shall not be construed as limited by words with which it is associated.
2. Futures Trading Rules
2.1. By accessing your Futures Account, you agree to be bound by the terms of this Agreement together with the rules that apply in relation to the Futures Trading Services provided by Bitunix from time to time (collectively, the “Futures Trading Rules''), which shall include, without limitation, each of the following:
(a) the provisions regarding Funding rates (as available HERE or on such other webpage as notified by Bitunix from time to time);
(b) the provisions regarding Liquidation (as available HERE or on such other webpage as notified by Bitunix from time to time);
(c) the provisions regarding Trading Fees (as available HERE or on such other webpage as notified by Bitunix from time to time);
(d) any other rules, terms of service, and/or trading protocols that Bitunix may from time to time in its sole and absolute discretion determine shall form part of this Agreement (as available HERE or on such other webpage as notified by Bitunix from time to time).
2.2. You acknowledge and agree that the Futures Trading Rules shall supplement and form part of this Agreement. In the event of any conflict between the provisions of any of the Futures Trading Rules and the provisions of this Agreement, the provisions contained in the Futures Trading Rules, as they relate to the relevant Futures Trading Service(s) referred to therein, shall prevail.
2.3. Bitunix may, from time to time, amend the Futures Trading Rules in its sole discretion, including, but not limited to, amending the trading pairs available as part of the Futures Trading Services and the leverage available for particular Transactions.
2.4. Nothing in this Agreement or otherwise obliges Bitunix to provide any Futures Trading Services to you and Bitunix may change, suspend, terminate, restrict or discontinue to any of the Futures Trading Services or any information, features or functions available through the Platform, and may delist any Digital Asset trading pairs from the Platform either temporarily or on a permanent basis, in each case at any time in its sole and absolute discretion, without giving any reason or any notice to you thereof.
2.5. Nothing contained on the Platform is to be construed as an offer, an invitation to offer or a recommendation to enter into any transaction which can be accepted by you so as to create contractual obligations without further action by Bitunix. Bitunix is not providing any advice with respect to the use of the Platform (including, without limitation, regarding the execution of transactions or any legal, tax or accounting advice regarding the suitability or profitability of a security, investment or transaction by means of the Platform). The Platform provides general information only; it is not intended as financial advice or as an offer, solicitation or recommendation of securities or other financial products and is not personalized or in any way tailored to reflect your particular investment objectives, financial situation or needs. Any transaction(s) or products(s) mentioned herein may not be appropriate for all investors and before entering into any transaction you should take steps to ensure that you fully understand the transaction and have made an independent assessment of the appropriateness of the transaction in the light of your own objectives and circumstances, including the possible risks and benefits of entering into such transaction and seeking advice from your own advisers. If you do decide to enter into a transaction, you do so in reliance on your own judgment.
2.6 You acknowledge that there are legal requirements in various countries which may restrict the products and services that Bitunix can lawfully provide as part of the Futures Trading Services. Accordingly, some products and services and certain functionality within the Platform may not be available or may be restricted in certain jurisdictions or regions or to certain users. You shall be responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of the Platform and the Futures Trading Services in each country from which the Platform and the Futures Trading Services are accessed by you or on your behalf. Bitunix reserves the right to change, modify or impose additional restrictions with respect to the access to and use of the Platform and/the Futures Trading Services from time to time in its sole discretion at any time without notification.
3. Futures Orders
3.1. To enter into a Transaction, provide any instructions with respect to a Transaction or close-out any open position with respect to a Transaction, you may do so by placing a relevant Order with Bitunix through the use of the Platform.
3.2. In the event that Bitunix assumes the role of the counterparty to any Transaction, Bitunix shall be entitled to all gains, profits and benefits derived from such Transaction.
3.3. Nothing in this Agreement or otherwise obliges Bitunix to accept any Order or enter into any Transaction with you, and Bitunix may refuse to enter into any Transaction, accept or otherwise act on any Order without giving any reason or any notice to you thereof.
3.4. Bitunix shall be entitled to rely upon any Order which Bitunix reasonably believes to have been provided on your behalf as duly authorized without further enquiry. Where any Order is ambiguous or inconsistent with any other Order, Bitunix shall be entitled to rely and act upon such Order in accordance with any reasonable interpretation thereof.
3.5. Bitunix will not act in accordance with any Order which purports to dispose of or deal with any Digital Assets which are in fact not held in any Bitunix Account and/or Futures Account.
3.6. Bitunix shall not be liable for any Loss or other liability whatsoever incurred by you or any third party which arises from or in connection with any failure by Bitunix to comply with any of your Orders or from any exercise by Bitunix of (or failure to exercise) any discretion, power or authority conferred upon Bitunix under this Agreement. Further, Bitunix shall not be liable for any Loss or other liability whatsoever incurred by you or any third party which arises from or in connection withfrom any failure or delay in the transmission of, or any wrongful interception of, any Order submitted through any equipment or system, including any equipment or system owned and/or operated by or on behalf of Bitunix.
3.7. You acknowledge and consent to the right of Bitunix to aggregate your Orders with the Orders of other clients of the Futures Trading Services. The allotment or distribution of any Digital Assets pursuant to such Order aggregation to or amongst you and other clients of the Futures Trading Services shall be at Bitunix’s sole and absolute discretion. You further acknowledge and agree that Bitunix may enter intoTransactions as principal and, in circumstances where Bitunix acts as principal to any Transaction, that Bitunix may also take such actions as Bitunix may reasonably require in order to limit its liability/exposure under such Transaction.
4. Margin
4.1. You shall deposit and maintain in your Futures Account, and/or otherwise provide to Bitunix, Margin in such form and amounts, at such times and in respect of such Futures Account as Bitunix may from time to time in its sole and absolute discretion require, whether or not such requirement of Bitunix is identical to or reflects or is greater than applicable collateral or margin requirements of any governmental body or self-regulatory organization in any jurisdiction (including any exchange) which is required to be maintained by Bitunix and/or you.
4.2. A list of Digital Assets approved by Bitunix to be eligible as Margin will be prescribed by Bitunix and certain Digital Assets may only be valued as Margin on a discounted basis. Bitunix may amend that list from time to time in its sole discretion and may (but shall not be obliged to) notify you of any changes to the list of eligible Digital Assets or discounts applied to the valuation thereof prior to those changes taking effect.
4.3. The value of any Margin shall be as determined by Bitunix in its sole and absolute discretion.
4.4. You may choose to satisfy Initial Margin and Maintenance Margin requirements on your Futures Account either on an isolated basis (i.e. per each open position you hold in Futures) (“isolated margin mode”) or on a net basis across all open positions in a particular contract type (“cross margin mode”). If you select “isolated margin mode”, each open position will be allocated an independent ledger for the purposes of calculating Initial Margin and Maintenance Margin requirements with respect to that open position. In that case, an independent Margin Balance will apply to each open position and only Digital Assets allocated as Margin to a particular open position will be utilized in the event of any Liquidation or close-out. Risk is therefore isolated per open position and if Liquidation is triggered for a particular open position, other open positions will not be affected. If you select “cross margin mode”, this means that Initial Margin and Maintenance Margin requirements will be calculated on a net basis across all of your open positions that reference the same contract type. For example, in “cross margin mode”, Initial Margin and Maintenance Margin will be calculated on a net basis across all USDT-M Futures contracts that reference BUSD and are margined in BUSD, and all open positions in such contracts will have a single margin balance and will have recourse to the same pool of Digital Assets provided by you to satisfy such Initial Margin and Maintenance Margin requirements. A Liquidation will therefore impact all of your open positions referencing the same contract type.
4.5 Bitunix currently only accepts USDT stablecoins to satisfy Initial Margin and Maintenance Margin requirements on USDT-M Futures contracts. To the extent that you have deposited certain Digital Assets to your Futures Account other than USDT, you may be able to apply the value of such Digital Assets to satisfy Initial Margin and/or Maintenance Margin requirements on USDT-M Futures by selecting “multi-asset mode” through the Platform. Digital Assets other than USDT that are used to satisfy Margin Requirements on USDT-M Futures when in “multi-asset mode” will receive a value haircut (as determined by Bitunix in its sole discretion). Bitunix reserves the right to change the Digital Assets that are eligible as Margin for USDT-M Futures contracts under “multi-asset mode” and/or applicable value haircuts and maximum transfer-in limit from time to time at its discretion.
4.6. Upon specific instructions provided by you, Bitunix may (but is not obliged to) transfer all or part of the Margin held by Bitunix for you in respect of any Futures Account to any other Bitunix Account or to utilize such Margin for any purposes as required by you with respect to any other Services offered by Bitunix outside of the Futures Trading Services.
4.7. Bitunix may establish Margin Requirements in respect of Transactions and such Margin Requirements will be set out in the Futures Trading Rules. Bitunix may, in its sole and absolute discretion, with or without notice to you, vary the Margin Requirements for any Futures Account and/or type of Transaction at any time and by any level, and may also stipulate that such Margin Requirements shall apply to existing positions as well as new positions in the Transactions affected by such change. Any written notice (which shall include email or electronic notification on or through the Platform) from Bitunix stating that any such circumstance has arisen shall be deemed to be a conclusive determination of that event. You acknowledge that Bitunix may, in certain market conditions, effect an immediate change in Margin Requirements and/or require additional Margin to be deposited immediately or within a specified period of time which may be less than 24 hours, and you waive any right to object on the grounds that such requirement is unreasonable. No previous Margin Requirements shall set a precedent or bind Bitunix.
4.8. If at any time Bitunix determines that additional Margin is required with respect to a Transaction or group of Transactions, you shall deposit with Bitunix such additional Margin immediately upon demand, provided that, notwithstanding any such demand for additional Margin, Bitunix may at any time exercise its rights under Clause 8 of this Agreement should your Margin Balance fall below the applicable Maintenance Margin. In making such determination in respect of the Margin provided for any Futures Account, Bitunix shall not be required to take into consideration Margin held by Bitunix for you in respect of any other Bitunix Account.
4.9. You acknowledge that Margin may be held and used to secure the performance of your obligations as well as for such other purposes as the Applicable Laws may permit or stipulate for the relevant Transactions.
4.10. All Margin shall be held by Bitunix, notwithstanding any provision or instructions to the contrary, as continuing security and shall be subject to a general lien and right of set off in favor of Bitunix for any and all of your obligations, liabilities or monies whatsoever at any time now or hereafter owing, due, incurred or payable by you to Bitunix under this Agreement or otherwise, whether present or future, actual or contingent, solely or jointly or whether as principal or surety, and Bitunix may realize any of your Margin as provided for in this Agreement.
4.11. No interest shall be paid on any type of Margin deposited by you with Bitunix and you acknowledge and agree that interest earned on the Margin deposited under this Agreement may be retained by Bitunix for its own account and benefit. Bitunix shall at no time be required to deliver to you the identical property delivered or otherwise transferred to Bitunix as Margin for the Futures Account but only property of substantially the same kind and amount, subject to adjustments for quantity and quality variations at the market price prevailing at the time of such delivery. You acknowledge and agree that when Bitunix uses the Margin for any purpose as set out in this Agreement, the Margin does not belong to you and does not constitute a loan or constructive trust in favor of you and such Margin will no longer be your property.
4.12. You shall at your own cost and at Bitunix’s request, execute and do all such deeds, acts and things (including without limitation, the performance of such further acts or the execution and delivery of any additional instruments or documents) as Bitunix may require for the purposes of this Agreement, including but not limited to perfecting Bitunix’s rights to the Margin provided by you.
4.13. Subject to Applicable Law, Bitunix may deposit in Bitunix’s general account or any other account, any of your Margin and may commingle your Margin with the Digital Assets, currencies and properties of Bitunix or other clients of the Futures Trading Services.
4.14. All Margin shall be held subject to Bitunix’s general rights under Applicable Law.
5. Margin Level, Margin Call and Liquidation
5.1. Without prejudice to the generality of this Clause 5 of this Agreement, unless otherwise directed by Bitunix:
(a) You agree to deposit the required Initial Margin to your Futures Account before entering into any Transaction. If you do not allocate the prescribed Initial Margin to your Futures Account, then you will not be permitted to enter into a Transaction. The Initial Margin required for a particular Transaction will be determined by reference to the notional value of the relevant position and the applicable leverage;
(b) You agree to maintain sufficient Maintenance Margin at all times for outstanding Transactions. If the Margin Balance of your Futures Account falls below the required Maintenance Margin, you agree to transfer additional Margin to Bitunix whether or not a Margin Call has been made by Bitunix to restore to the required Maintenance Margin for outstanding Transactions. Bitunix may amend the maximum leverage, Initial Margin and/or Maintenance Margin requirements with respect to Transactions from time to time in its sole discretion. A higher Initial Margin may be payable in certain circumstances and Maintenance Margin may increase in the event of adverse market movements in order to keep a position open;
(c) You acknowledge that Bitunix calculates the profit and loss of your open positions in Futures based on a proprietary model and that Bitunix has the sole discretion to choose and amend the specification of the such proprietary model in order to reflect Bitunix’s view of the fair market price of the Futures at the relevant time;
(d) You acknowledge that if with respect to open positions maintained in Futures, the Margin Balance of your Futures Account falls below the applicable Liquidation Level such that the Mark Price of the relevant Futures is equal to [or greater] than the Liquidation Price, Bitunix may and shall be fully entitled (but shall not be obliged) to sell or dispose of any or all Margin in your Futures Account in order to satisfy the Margin Requirements prescribed by Bitunix with respect to such Futures, whether or not a Margin Call has been made (“Liquidation”), and Bitunix is not required to provide notice before commencing Liquidation;
(e) You acknowledge and agree that it is your sole responsibility to monitor the Margin Balance of your Futures Account and applicable Margin Requirements (including the Initial Margin, Maintenance Margin, the Mark Price and the Liquidation Price) of your Futures Account from time to time. All open positions of the Futures Account shall be marked-to-market daily, or at more frequent intervals as Bitunix may determine in its sole discretion. To avoid spikes and unnecessary Liquidations during periods of high volatility, Bitunix uses Last Price and Mark Price to determine the mark to market value of open positions. Last Price is used for calculating your Realized P/L whereas Mark Price is used to determine Unrealised P/L and the Liquidation Price;
(f) Any Margin Call made by Bitunix must be met by you by transferring additional Margin from your Bitunix Account(s) to your Futures Account.
5.2. As Digital Asset markets are open 24 hours a day, 7 days a week, Margin Calls and Liquidations may occur at any time, including outside of normal business hours. You further agree and acknowledge that the prices of Digital Assets are volatile and thus may decline speedily in value.
5.3. Bitunix shall be entitled, but shall have no obligation, to make Margin Calls to you in respect of your Transactions. If a Margin Call is made, it will be made through the Platform, by email or other electronic means. You are responsible for monitoring your Futures Account and for maintaining sufficient Margin at all times to satisfy applicable Margin Requirements, especially during volatile periods, regardless of whether or not a Margin Call has been made. Any failure to satisfy a Margin Call or any failure to otherwise maintain sufficient Margin in your Futures Account may lead to your positions being subject to Liquidation and/or Bitunix exercising its rights as set out in Clause 8 of this Agreement. Bitunix shall have no liability to you or any third party in connection with any failure of Bitunix to make a Margin Call or any delay in the receipt by you of any Margin Call.
5.4. Failure of Bitunix to exercise any or all of its rights under this Clause 5 shall not constitute a waiver of its rights to do so at any time thereafter, nor shall Bitunix be subject to any liability to you for its acts or its failure to so act.
6. Fees, Interest, Commissions and Charges
6.1. You shall promptly pay all of Bitunix’s fees, interest, commissions and/or other charges at such rates and in such manner as Bitunix may impose and stipulate from time to time with respect to the execution and/or performance of any Transaction or otherwise for the maintenance of your Futures Account
6.2. Bitunix reserves the right from time to time in its sole and absolute discretion and by notice to you to vary the rates of fees, interest, commissions and charges or impose other fees, interest, commissions and charges. Fees, interest, commissions and other charges may be quoted on request, posted on the Platform or individually notified via email or other modes of communication as Bitunix in its sole and absolute discretion may deem fit. It is your responsibility to ensure that you are aware of current applicable fees, interest, commission, charges and rates.
6.3. You shall make payment to Bitunix of any outstanding amount owed to Bitunix (including without limitation any outstanding fees, interest, commissions and charges) when due or otherwise upon demand by Bitunix.
6.4. All commissions, interest, fees, charges or other amounts owed from you to Bitunix may be settled by Bitunix at its sole and absolute discretion on the day they fall due by debiting your Bitunix Account (including your Futures Account) with the relevant amount payable by you. In the event that there are insufficient Digital Assets in your Bitunix Account (including your Futures Account), you acknowledge that any amount due and payable from you under this Clause is a debt immediately due and owing by you to Bitunix.
6.5. Applicable trading fees may vary between different clients, products and Transactions and will depend on certain factors, such as trading volumes. Trading fee discounts may be available from time to time, subject to the satisfaction of certain criteria. All trading fees shall be applied at both the entry into and the close-out of a Transaction, unless otherwise notified.
6.6. If you enter into a Perpetual Futures Contracts through the Platform, then, currently every 8 hours (currently at 00:00 UTC; 08:00 UTC and 16:00 UTC (the “Funding Times”), you will either be required to pay or will be entitled to receive a Funding Fee. As Perpetual Futures Contracts do not have a set expiry date and do not settle in the traditional sense, Funding Fees ensure that the price of the contract correlates with the prevailing spot price of the underlying instrument. In extreme market conditions, high Funding Fees can mean that it is costly to maintain a long-term position in the market. You will only be required to make, or entitled to receive, Funding Fees in respect of open positions you hold in Perpetual Futures Contracts as at the Funding Times. If you do not have an open position at a Funding Time, you will not be liable for, or otherwise entitled to receive, any Funding Fees with respect to such Funding Time. Moreover, if you close your open positions prior to a Funding Time, you will not pay or receive any Funding Fees in relation to those positions. There is a 15-second deviation in the actual Funding Times. For example, when a trader opens a position at 08:00:05 UTC, the Funding Fee may still apply to that position. Bitunix reserves the right to amend applicable Funding Fees including applicable Funding Times from time to time in its discretion.
6.7. If at any time and for any reason whatsoever, the Interest Rates under this Agreement exceed the maximum rate of interest permitted to be charged by Bitunix to you under Applicable Laws, you and Bitunix agree that such Interest Rates will be reduced automatically to the maximum rate of interest permitted to be charged under Applicable Law.
6.8. Without prejudice to Clause 6.7 above, Bitunix shall be entitled at its sole and absolute discretion to charge interest on any amount due to Bitunix from you at such rate and calculated and/or compounded in such manner as Bitunix may impose and determine from time to time and to debit any Bitunix Account (including any Futures Account) in respect of the interest due.
6.9. All amounts owed to Bitunix shall be settled in such Digital Assets as solely determined by Bitunix from time to time and shall be free of deduction or withholdings (if applicable). If you are required to effect such deductions or withholdings, then the amount due to Bitunix shall be increased by such amount as shall result in Bitunix receiving an amount equal to the amount Bitunix should have received in the absence of such deduction or withholding.
6.10. Any applicable taxes, duties, disbursements, costs and/or other expenses incurred by Bitunix in connection with providing the Futures Trading Services to you or otherwise in connection with your Futures Account shall be fully reimbursed by you.
6.11. If for any reason Bitunix cannot effect payment or repayment to you in a particular Digital Asset in which payment or repayment is due, Bitunix may affect payment or repayment in an equivalent amount of any other Digital Assets selected by Bitunix based on a rate of exchange solely determined by Bitunix, acting reasonably, in respect thereof at the relevant time.
6.12. All interest, fees, commissions and other charges of Bitunix are exclusive of any goods and services tax or any other applicable sales tax which shall be borne and separately charged to you.
6.13. Without prejudice to any right of set-off under the Terms of Use or Applicable Law, you acknowledge and agree that Bitunix may set off all amounts of whatever nature, denominated in whatever Digital Asset or currency or otherwise and wherever arising which are due from you (or, where appropriate, from the relevant entity for whom you are acting) or to you (or, where appropriate, to the relevant entity for whom you are acting) in respect of the Futures Trading Services and/or any other Bitunix Services provided to you through the Platform or otherwise. You acknowledge and agree that you (or, where appropriate, the entity for whom you are acting) will not be entitled to exercise any right of set-off or counterclaim against amounts due to Bitunix.
7. Default and Termination
7.1. A “Default” shall be deemed to occur if:
(a) your Margin Balance or LTV Ratio with respect to your Futures Account falls below the applicable Margin Requirement/ Required LTV Ratio (as applicable) as respectively prescribed by Bitunix in the applicable Futures Trading Rules;
(b) any representation, warranty, agreement or undertaking made by you to Bitunix, whether under or in connection with this Agreement (including without limitation Clause 10 of this Agreement, the Futures Trading Rules, the Terms of Use or otherwise) or any other material statement made by you in or in connection with the same is untrue, inaccurate, incomplete or misleading in any respect at the time when made by you or thereafter at any time becomes untrue, inaccurate, incomplete or misleading in any respect and you fail to inform Bitunix of the true position as soon as reasonably practicable;
(c) you have failed to comply with or perform any of your obligations hereunder or in respect of your Futures Account, any Transaction or under the Futures Trading Rules or the Terms of Use (including without limitation your failure to make, when due, any payment or delivery required to be made by you under this Agreement, the Terms of Use or otherwise in respect of your Futures Account, any Transaction);
(d) you fail to promptly provide Bitunix with any documentation requested for the purposes of “know your customer” checks, including, without limitation, documentation required for the purposes of verifying your identity, place of address, legal authority/capacity and client classification status and/or you fail to provide any information and/or documents requested by Bitunix for the purposes of credit checks, anti money laundering requirements or any other internal assessments conducted by Bitunix;
(e) (in the event that you are an individual), you become deceased, bankrupt or commence action (or have any action commenced against you) to place you into bankruptcy or personal insolvency or you are otherwise unable to pay your debts as and when they fall due;
(f) (in the event that you are acting on behalf of a partnership) any of the partners thereof shall become deceased, bankrupt or commence action (or have any action commenced against them) to place them into bankruptcy or personal insolvency or are otherwise unable to pay their debts as and when they fall due or if any action is commenced to dissolve the partnership;
(g) (in the event that you are acting on behalf of a corporation) the corporation shall be unable to pay its debts as and when they fall due, or action is commenced to place the corporation in insolvency, judicial management, receivership, administrative management, or any similar or analogous proceedings;
(h) any investigation, claim, action or proceeding of any nature is commenced against you (including without limitation investigation into suspected market abuse, manipulation or other criminal conduct), you have breached Applicable Laws or steps are taken by any person to enforce any security interest against you;
(i) you convene a meeting of your creditors or propose or make any compromise or arrangement with or any assignment for the benefit of your creditors;
(j) Bitunix has reasonable concerns in relation to your creditworthiness, financial status or verification of your identity;
(k) Bitunix determines in its sole and absolute discretion that you have acted in an abusive manner to any representative of Bitunix;
(l) unless alternative arrangements have been made between you and Bitunix with reference to a specific absence by you, at any time Bitunix is not able to contact you within 24 hours using reasonable means and contact points known to Bitunix;
(m) Bitunix forms the view, in good faith, that it should take action in order to preserve its rights or interests under any Bitunix Account or Futures Account or under its relationship with you;
(n) Bitunix reasonably believes that any of the circumstances set out under Clauses 7.1(a) to 7.1(m) above are likely to happen and Bitunix also reasonably believes that any action described in Clause 7.2 below is necessary, desirable or expedient to protect its interests or the interests of Bitunix’s other clients; or
(o) a credible allegation of fraud, misconduct, embezzlement, money laundering, insider trading, market manipulation abuse or other material illegality, breach of regulation or impropriety is made against you, that in the good faith and commercially reasonable business judgment of Bitunix could reasonably result in reputational harm to Bitunix, or compromise the integrity of the markets maintained by Bitunix.
7.2. Without prejudice to any other right of Bitunix hereunder or otherwise at law, in the event of Default, Bitunix may (but is not obliged to) immediately or any time thereafter whilst the Default is continuing, do any one or more of the following without prior notice:
(a) suspend (indefinitely or otherwise) cancel or terminate any Bitunix Account, Futures Account, any services provided to you and/or Bitunix’s broader relationship with you or prohibit you from opening any Bitunix Account and/or Futures Account and/or accelerate any and all of your liabilities to Bitunix (including any and all of your fees, interests, commission, and charges owed by you to Bitunix) so that they shall become immediately due and payable;
(b) liquidate, accelerate, and/or close out any outstanding Transaction by determining its value in good faith and in its absolute discretion as of the date of such liquidation, acceleration or close-out as soon as practicable thereafter;
(c) at such times and manner as Bitunix may reasonably determine based on, but not limited to, market conditions and portfolio health, sell or otherwise transfer any Digital Assets or other property which Bitunix may hold for you or which has been transferred to Bitunix by you and apply the proceeds to the discharge of your obligations, subject to Bitunix’s rights to set-off and net amounts owed as between you and Bitunix as set out under Clause 6.13 of this Agreement or otherwise under the Terms of Use or Applicable Laws;
(d) vary the applicable Margin Requirement and/or Required LTV Ratio or liquidate or exercise its power to sell the Margin or Collateral or part thereof at a price which Bitunix deems appropriate in the circumstances;
(e) apply any amounts of whatsoever nature standing to your credit against any amounts which you owe Bitunix (of whatsoever nature and howsoever arising, including any contingent amounts), or generally to exercise Bitunix’s rights of netting and set-off as set out under Clause 6.13 of this Agreement or otherwise under the Terms of Use or Applicable Laws;
(g) do or omit to do anything which Bitunix reasonably believes to be necessary, desirable or expedient to protect Bitunix or its other clients; and/or
(h) exercise such other authority and powers that may have been conferred upon Bitunix by this Agreement, the Futures Trading Rules and/or the Terms of Use.
7.3. To the extent permitted under Applicable Law, you will be responsible for the reasonable costs and expenses of collection of any unpaid deficiency in your Futures Account including, but not limited to, legal counsel’s fees incurred and payable or paid by Bitunix, and shall be responsible for any other reasonable costs and expenses incurred by Bitunix in exercising any of its rights under this Clause 8 pursuant to any Default.
8. Statements, Confirmations and other information with respect to your Futures Account
8.1. If requested by you through functionality available on the Platform, Bitunix may make statements and/or Confirmations with respect to your Futures Account and/or any Transactions entered into by you or on your behalf available to you through the Platform. Bitunix shall however be under no obligation to provide any such statements and/or Confirmations and it is your responsibility at all times to monitor, through the Platform, the Margin Balance of, and any Transactions entered into against, your Futures Account. If Bitunix does provide any such statement and/or Confirmation to you following your request, it is your responsibility to verify all such statements and/or Confirmations provided, and any other information made available on the Platform with respect to your Futures Account (such information, together with any such statements/Confirmations, the “Futures Account Information'') as against your own records. If no objection is raised by you within 7 days of the date of the relevant Futures Account Information (or such other time period set out in the Futures Account Information), and in the absence of Manifest Error or clear evidence to the contrary, such Futures Account Information shall be deemed conclusive and binding as against you, and you shall not be entitled to object thereto. Any and all objections by you shall not be valid unless accompanied by supporting evidence. Notwithstanding the foregoing, Bitunix may at any time in its sole discretion chose to rectify any error in any Futures Account Information which has been proved to its satisfaction to be incorrect, but is not obliged to do so, and may demand immediate repayment from you of any Digital Assets erroneously transferred to you as a result of any such error. Bitunix does not make any representations or warranties regarding the availability, accessibility, accuracy, currency or completeness of any information contained in any Futures Account Information provided by Bitunix or otherwise presented on the Platform.
8.2. You shall immediately notify Bitunix if any Futures Account Information is not received by you within the usual time frames provided in the ordinary course of business or your use of Bitunix’s services.
8.3. Subject to the provisions of this Clause 9, any Futures Account Information which does not accurately reflect the relevant Transaction entered into via the relevant Platform:
(a) does not affect the validity of the relevant Transaction; and
(b) where there is Manifest Error, does not entitle you to enforce whatever is inaccurately recorded in such Futures Account Information.
8.4. You hereby authorize Bitunix to to cancel or terminate any Transaction involving or deriving from a Manifest Error or to amend the details of such Transaction to reflect that which Bitunix considers in its sole and absolute discretion acting in good faith to be the correct or fair details of such a Transaction absent such Manifest Error.
8.5. Without prejudice to the generality of the other terms in this Agreement, and in the absence of fraud or bad faith, Bitunix shall in no circumstances be liable to you for any Loss or demand of whatsoever nature you may suffer or incur in connection with any Manifest Error howsoever arising, whether direct or indirect, special or consequential, including, but not limited to, loss of profit, loss of opportunity or even if Bitunix had been advised of the possibility of the same arising or that the same were reasonably foreseeable. Your attention is drawn in particular to Clause 11 of this Agreement.
9. Your Representations, Warranties, Agreement and Undertakings
9.1. You represent, warrant, agree and undertake that:
(a) you have full capacity and authority and have obtained (and will maintain) and are in compliance with all necessary authorisations, consents, licenses or approvals (whether under Applicable Laws or otherwise) required to: (i) accept and agree to the terms of this Agreement, (ii) receive the Futures Trading Services, (iii) to enter into Transaction, (iv) to open, maintain and/or continue to maintain a Futures Account with Bitunix, (v) to transfer Margin and Collateral to Bitunix and (vi) to issue Orders to Bitunix in connection therewith;
(b) you have made your own independent decisions to accept the terms of this Agreement, open and maintain a Futures Account(s), to receive the Futures Trading Services and to enter into Transactions from time to time and as to whether the Futures Trading Services, Transactions are suitable or appropriate for you or the entity for whom you are acting based on your own judgment and advice from advisers as you deem necessary. You are not relying on any communication (whether written or oral) from Bitunix as investment advice or as a recommendation to enter into any transaction or as an assurance or guarantee of any expected results of a transaction;
(c) you have read and understood the Futures Trading Rules and accept the conditions and limitations for each and every service available to you in connection with the Futures Trading Services. In particular, you understand that the level of services available to you will vary depending on whether you are transacting or intend to transact on the basis of “cross margin mode” or “isolated margin mode”;
(d) you are not an employee of any governmental or self-regulatory organization in any jurisdiction, including any exchange or a member firm thereof, or engaged in the business of dealing (either as agent or principal), that prohibits you from establishing a relationship with Bitunix, in dealing in any of the Digital lAssets traded in connection with your Futures Account, and you shall promptly notify Bitunix if you become so employed;
(e) you do not reside in the prohibited countries and territories as per set out in Terms of Use, or any other jurisdictions which residents Bitunix deems from time to time to be prohibited from using the services provided under this Agreement;
(f) unless you specifically notify Bitunix and Bitunix agrees, no person other than you has an interest in yourFutures Account;
(g) except with the express written consent of Bitunix, and except for any security or encumbrance created hereunder, no person has or will have any security or other encumbrance over your Futures Account and/or any Digital Asset held in your Futures Account;
(h) any Order placed or any other dealings with respect to your Futures Account is solely and exclusively based on your own judgment and after your own independent appraisal and investigation into the risk associated with such Orders and your own independent determination of the Order being specifically suitable for you based on your own assessment of your financial resources, ability and willingness to take relevant risks and financial objectives;
(i) Bitunix shall not be under any duty or obligation to inquire into the purpose or propriety of any Order and shall be under no obligation to accept or execute any Order;
(j) any person(s) empowered to act on your behalf have been duly authorized;
(k) you have complied and shall comply with all Applicable Laws in all jurisdictions relevant to your Futures Account, any Transaction, or other service or facility provided or made available by Bitunix to you;
(l) all information and/or documents provided by you or on your behalf to Bitunix in connection with the services contemplated under this Agreement are true, accurate, complete and not misleading in any and all respects, and nothing has been concealed from Bitunix which may have a material bearing on Bitunix’s decision to provide or continue to provide any of the services under this Agreement; and
(m) you shall not knowingly or recklessly permit the use of Bitunix’s services, facilities or membership in a manner which is in the opinion of Bitunix liable to bring Bitunix into disrepute, impair the dignity or degrade the good name of any of the foregoing. You shall not knowingly or recklessly create or maintain or exacerbate manipulations (or attempted manipulations), corners (or attempted corners) or violations of any Applicable Laws (or arrangements, provisions or directions made or given thereunder), or otherwise act in a manner substantially detrimental to the interests or welfare of Bitunix or any of its other users.
9.2 The above representations, warranties, agreement and undertakings shall be deemed repeated whenever you give Orders to Bitunix, enter into any Transactions or Cross Collateral Loan or establish a Futures Account with Bitunix.
10. General Indemnity
10.1. In addition and without prejudice to any other right or remedy of Bitunix under Applicable Laws, the Terms of Use or otherwise (but without duplication), you shall at all times indemnify, keep indemnified, and hold Bitunix harmless from and against any and all Loss suffered or incurred by Bitunix which arises (whether directly or indirectly) out of, in the course of or in connection with:
(a) any Default or any failure by you to comply with any provision of this Agreement or Applicable Laws;
(b) Bitunix acting in accordance with your Orders or in any manner permitted under this Agreement and/or the Terms of Use;
(c) any changes in any Applicable Laws that impact the provision of the Futures Trading Services to you (or use thereof); and/or
(d) any act or thing done or caused to be done by Bitunix in connection with or referable to this Agreement, the Terms of Use or your Futures Account.
10.2. You shall further indemnify, keep indemnified and hold harmless Bitunix for any and all expenses, costs and legal fees (on a full indemnity basis) incurred, including but not limited to expenses, costs and legal fees incurred for producing records, and information, or payment made (whether such payment is or was or is to be made in settlement of any proceedings or in connection with any ruling, judgment, order or award) by any of them in connection with any investigations or proceedings (whether legal, regulatory, arbitration or other proceedings) brought against it in connection with Clauses 10.1(a) to 10.1(d) above. You shall provide any and all reasonable assistance to Bitunix in connection with such investigations or proceedings.
11. General Exclusion
11.1. Futures trading is not suitable for everyone. You should examine your investment objectives, financial resources and risk tolerance to determine whether borrowing against your assets held with Bitunix is appropriate for you. You acknowledge that futures trading with respect to Digital Assets is a highly speculative activity involving highly leveraged and rapidly fluctuating markets. You further understand and accept the significant risks associated with the use of Margin, Collateral and leverage and have determined that the use of Margin, Collateral and/or leverage is consistent with your investment objectives. Despite such risks, you acknowledge, understand and agree that you are willing and able to assume the financial risks and other hazards of futures trading with respect to Digital Assets and agree that you will in no manner hold Bitunix responsible for Losses incurred by you under or in connection with this Agreement, the Futures Trading Rules, the Terms of Use or otherwise. You acknowledge that trading in Futures involves the potential for profit as well as the risk of losing substantially more than your initial deposit. You do not own or have any rights to the underlying instruments – which includes Digital Assets and any rewards or yields generated from them.
11.2. In addition and without prejudice to any other right or remedy which Bitunix may have under this Agreement, the Futures Trading Rules, the Terms of Use, Applicable Laws or otherwise, so long as Bitunix acts in good faith, it shall not be liable to you in any respect for any Loss suffered by you, including, without limitation, any Loss resulting from default, insolvency or analogous proceedings of, or action or inaction by any intermediary (including wrongful or unlawful action or inaction) or howsoever otherwise suffered and/or incurred by you under or in connection with this Agreement, the Futures Trading Rules and/or the Terms of Use. Bitunix shall only be liable to you if Bitunix is proven to have been fraudulent or to have acted in wilful default.
11.3. Without prejudice to the generality of the foregoing, Bitunix shall not in any event be liable to you for any indirect or consequential Loss, or for any anticipated profits or punitive damages.
12. Applicable Laws
12.1. Your relationship with Bitunix, the operation of your Futures Account, the provision of the Futures Trading Services and the implementation of any transaction shall be subject at all times to the Applicable Laws. Bitunix may take or refrain from taking any action whatsoever, and you shall comply with, and shall do all things required by Bitunix in order to procure or ensure compliance with, Applicable Laws. You agree that Bitunix shall not be liable to you as a result of any action taken by Bitunix to comply with Applicable Laws.
13. Technology Disclaimer
13.1. For the purpose of the Futures Trading Services, Bitunix may offer or make available for your access and use the Platform. Accordingly, Bitunix grants you a revocable, non-exclusive, non-transferable right to access and use the Platform for the purposes of receiving the Futures Trading Services in accordance with this Agreement. Bitunix may limit, revoke or vary such license and/or change, suspend, terminate, restrict or discontinue the Platform (or any part of thereof) or any services, information, features or functions accessible by means of the Platform or your access to the Platform for any reason at any time without notice or liability.
13.2. You acknowledge and agree that access and use of the Platform is provided on an “as is'' and “as available” basis and Bitunix makes no representation or warranty of any kind, express or implied, with respect to the functionality, operation, content or otherwise of the Platform and does not represent or warrant that the Platform or any part thereof is free from defect, failure or interruption or that they are fit for your purposes or any particular purpose and, without prejudice to the foregoing, Bitunix shall not in any event be liable for any system error, faults or failure of the Platform whatsoever and howsoever arising or caused other than by fraud or wilful default of Bitunix.
13.3. To the extent that you may use third party technology, web applications, application programme interfaces, software, software code, programmes, protocols and/or other third party resources (the “Third Party Applications”) whether independently identified and selected, sourced or used by you, made available via Bitunix or otherwise, to provide connectivity to the Platform offered or made available by Bitunix to place Orders, enter into and/or settle Transactions, you acknowledge and accept that you are solely responsible for and will bear all risks that such Third Party Applications may not be compatible with or function appropriately with the Platform.
13.4. Bitunix disclaims and excludes unless expressly prohibited by Applicable Laws, all terms and conditions and warranties implied by statute or common law in relation to the Platform including, but not limited to, merchantability, satisfactory quality, suitability or fitness for any particular purpose. Technical difficulties may be encountered in connection with the Platform. Such difficulties may include, but not be limited to, malfunctions, failures, delays, hardware damages or software erosion. Such difficulties could be the result of hardware, software or communication link inadequacies or any other cause and such difficulties could lead to possible economic and/or data loss. In the absence of fraud or wilful default, in no event will Bitunix, any of its related companies or affiliates or any of their respective officers, employees, agents, representatives or contractors be liable for any loss, cost, claim, demand, expense or damage including, without limitation, loss of profit, loss of revenue, loss of opportunity, consequential, unforeseeable, special or indirect damages or expenses which arise directly or indirectly as a result of accessing or using the Platform, even if Bitunix had been advised of the possibility of the same arising or that the same were reasonably foreseeable.
13.5. You acknowledge that the Platform consists of certain trading systems, platforms and/or related software and technology (the “Trading Systems”) which enable, assist and/or facilitate you to place Orders, enter into and/or settle Transactions . These Trading Systems may be proprietary to Bitunix or may be licensed by Bitunix from third party licensors (the “Third Party Licensors”) for access and/or use by you. In addition to the terms of this Agreement, you agree and undertake to comply with any and all terms and conditions as Bitunix and/or such Third Party Licensors may from time to time prescribe or stipulate to be applicable to their provision and/or your access and/or use of such Trading Systems.
13.6. You acknowledge that Bitunix may use or provide technology and/or electronic services, or make available technology and/or electronic services provided by third parties, for your use in connection with the Futures Trading Services and any Order placed or Transaction made by you with Bitunix. Such technology and electronic services may include, but are not limited to, trading technology, web applications, application programme interfaces, software, software code, programmes, protocols and displays (collectively, the “Technology”) for trading, analyzing trades and markets, constructing automated trading systems and/or to assist or facilitate the provision, availability or connectivity of Platform provided or made available by Bitunix to you for access or use. Bitunix provides the Technology as is”, without any warranties of merchantability, fitness for a particular purpose, or other express or implied warranties. You acknowledge and agree that none of Bitunix, any Third Party Licensors and any other third party Technology providers shall be responsible for the operation or performance of any automated trading system developed with Technology or for any errors, malfunctions or breakdown of, or inability to access, any Technology or Platform or for any delays or interruptions in transmission of orders due to breakdown, excessive call volume or failure of transmission or communication equipment on the internet or otherwise, including, but not limited to, communications problems, computer software or hardware breakdowns, malfunctioning errors, any and all problems or glitches associated with computer problems or any other technical cause or causes.
13.7. You acknowledges that certain databases, programmes, protocols, displays and manuals which may form part of the Technology (the “Proprietary Information”) are proprietary and unique to Bitunix, Third Party Licensors or third party Technology providers, as to which copyright, patent, or other proprietary rights may be held by Bitunix, such Third Party Licensors, third party Technology providers or third parties from whom such Third Party Licensors or third party Technology providers have licensed or otherwise acquired such rights. You agree to take or cause to be taken any and all necessary precautions to maintain the confidentiality of such Proprietary Information, to comply with all copyright, trademark, trade secret, patent and other laws necessary to protect all rights in the Proprietary Information as advised by Bitunix and agree not to remove, conceal or obliterate any copyright or other proprietary notice, which may include references to Bitunix, such Third Party Licensors or such other third parties’ ownership, as included in the Technology.
13.8. You acknowledge, accept and agree that Bitunix, any Third Party Licensors or any other third party Technology providers and their respective directors, officers, employees, agents, contractors and/or subcontractors shall not be held liable for any Loss, damage, cost or expense (including the loss of data) suffered or incurred by you as a result, arising out of or in connection with any errors, malfunctions, breakdowns, inability to access, faults, interruptions or delays in the Technology, or Platform or out of any inaccuracies, errors or omissions in the information contained in the Technology or Trading Systems as supplied to, or made available for access and use by, you, provided however that this limitation does not apply to any loss, cost or damage suffered or incurred by you caused by fraud or wilful default of Bitunix in the performance of its duties imposed by this Agreement or applicable law. Each of Bitunix, such Third Party Licensors and such third party Technology providers makes no warranties, conditions, guarantees or representations as to satisfactory quality, fitness for a particular purpose or other warranties, conditions, guarantees or representations, whether express or implied, in law or in fact, oral or in writing, except as expressly stated in the terms of this Agreement. Under no circumstances shall Bitunix, such Third Party Licensors and/or such third party Technology providers be liable for any loss, damage, cost or expense of any nature whatsoever incurred or suffered by you of an indirect, incidental, special or consequential nature (including without limitation any economic loss or other loss of turnover, profits, business or goodwill) arising from or in connection with the provision of, or the availability to you of, any Technology or Platform.
13.9. Without prejudice to the generality of the foregoing, you agree not to bring any legal action, whether in tort, contract or otherwise, against Bitunix, any Third Party Licensors or any other third party Technology providers alleging damages for, the failure by Bitunix to perform or otherwise settle a Transaction entered by you using Technology.
13.10. Use of the Platform may require compatible hardware or devices, internet access, web browser that includes 128-bit encryption (e.g. Chrome/Edge/Firefox/Safari/Opera, latest version recommended and require periodic updates) and Bitunix software (latest version recommended and requires periodic updates). The performance of the Platform may be affected by the performance of these factors. It is not recommended to access the the Platform for the purposes of Futures trading with a touchscreen device on a web browser. You agree that meeting these requirements is your responsibility. Bitunix shall not be liable for any losses resulting directly or indirectly from the incompatible hardwares or devices, personal network congestion, network delay, poor network environment and outdated version of software. Bitunix reserves the right to limit the number of Futures Accounts that may be created from a device and the number of devices associated with a Futures Account.
14. Miscellaneous
14.1. The provisions of clause X (Resolving Disputes: Forum, Arbitration, Class Action Waiver) of the Terms of Use, relating to resolving complaints and disputes, shall apply mutatis mutandis as if set out in this Agreement.
14.2. This Agreement may, at Bitunix’s sole and absolute discretion, be translated into a language other than the English language. You agree that any such translation shall only be for your convenience and the English text shall prevail in the event of any ambiguity, discrepancy or omission as between the English text and any translated text.
14.3. Bitunix reserves the right to alter, revise, modify, and/or amend this Agreement at any time in its discretion. Any such amendments will take effect immediately upon being published on the Platform. It is your responsibility to regularly check relevant pages on the Platform to confirm the latest version of this Agreement. Your continued access and use of the Platform and the Futures Trading Services following any amendments to this Agreement shall indicate your acceptance of such amendments. If you do not agree to any such amendments, you should terminate your usage of Futures Trading Services and cancel your Futures Account.