TERMS OF
SERVICE

1. ACCEPTANCE OF TERMS

By accessing and using Swarp Pay ("the Service"), you accept and agree to be bound by the terms and provision of this agreement. If you do not agree to abide by the above, please do not use this service.

2. SERVICE DESCRIPTION

Swarp Pay is a digital payment platform that enables users to send, receive, and convert money globally between traditional fiat currencies and cryptocurrencies. Our services include:

• Global money transfers
• Real-time currency conversion
• Cryptocurrency wallet integration
• Non-custodial transaction processing
• Multi-asset support for 100+ cryptocurrencies and fiat currencies

3. REGULATORY & LICENSING STATUS

SWARP FOUNDATION S.R.L. is a company registered in Italy (Company Registration Number: 14284090967, REA: MI-2771688).

Licensing and Regulatory Framework:

• Virtual Asset Service Provider (VASP): We are committed to operating in compliance with applicable regulations for virtual asset service providers in all jurisdictions where we offer services
• Money Transmitter Licenses: Where required by law, we will obtain appropriate money transmitter or payment services licenses before offering services in specific jurisdictions
• Italian Regulations: We comply with Italian regulations including those set forth by Organismo Agenti e Mediatori (OAM) where applicable
• EU Regulations: We adhere to EU directives including MiCA (Markets in Crypto-Assets Regulation), 5AMLD, and 6AMLD where applicable
• Data Protection: We comply with GDPR (General Data Protection Regulation) for all EU users

Jurisdictional Restrictions: Our services may not be available in certain countries or regions including but not limited to countries subject to international sanctions. We continuously monitor regulatory developments and may modify service availability based on legal requirements.

4. USER ACCOUNTS

To use our services, you must create an account and provide accurate, complete, and current information. You are responsible for safeguarding your account credentials and all activities that occur under your account. You must immediately notify us of any unauthorized use of your account.

5. ACCEPTABLE USE

You agree not to use the Service for any unlawful purpose or in any way that could damage, disable, or impair the Service. Prohibited activities include but are not limited to:

• Money laundering or terrorist financing
• Fraud or fraudulent transactions
• Violation of any applicable laws or regulations
• Unauthorized access to other users' accounts
• Distribution of malware or harmful code

6. FEES AND CHARGES

Swarp Pay charges fees for certain transactions and services. All applicable fees will be clearly disclosed before you complete any transaction. We reserve the right to change our fee structure with reasonable notice.

7. SECURITY AND PRIVACY

We implement industry-standard security measures to protect your account and personal information. However, no system is completely secure, and you acknowledge that you use the Service at your own risk. For detailed information about how we collect and use your data, please review our Privacy Policy.

8. ANTI-MONEY LAUNDERING (AML) & KNOW YOUR CUSTOMER (KYC)

Swarp Pay is committed to preventing money laundering, terrorist financing, and other financial crimes. To comply with applicable laws and regulations, we implement comprehensive AML/KYC procedures:

• Identity Verification: Users must provide valid government-issued identification and proof of address
• Enhanced Due Diligence: High-value transactions may require additional verification
• Transaction Monitoring: We monitor transactions for suspicious activity
• Reporting Obligations: We are required to report suspicious activities to relevant authorities
• Sanctions Screening: We screen all users and transactions against international sanctions lists
• Record Keeping: We maintain records of customer due diligence and transactions as required by law

By using our services, you consent to our collection, verification, and retention of your personal information for AML/KYC purposes. Failure to provide required information or cooperate with verification procedures may result in account suspension or termination.

9. LIMITATION OF LIABILITY

To the fullest extent permitted by law, Swarp Pay shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including without limitation loss of profits, data, or use, arising out of or relating to your use of the Service.

10. DISPUTE RESOLUTION & REFUND POLICY

10.1 Dispute Resolution

If you have a dispute with Swarp Pay, you agree to first contact our customer support team to attempt to resolve the issue informally. We will work with you in good faith to resolve any disputes.

Arbitration: If we cannot resolve a dispute informally, any disputes arising out of or relating to these Terms or the Service shall be resolved through binding arbitration in accordance with the rules of the Italian Arbitration Association, or another mutually agreed arbitration forum. The arbitration will be conducted in English and take place in Milan, Italy.

Class Action Waiver: You agree that disputes will be resolved on an individual basis and not as part of a class action or collective proceeding.

10.2 Refund & Cancellation Policy

Due to the nature of cryptocurrency and digital asset transactions, refunds are generally not possible once a transaction has been completed and confirmed on the blockchain. However, we will consider refund requests in the following circumstances:

• Technical Errors: If a transaction failed due to a technical error on our platform
• Unauthorized Transactions: If you can prove a transaction was unauthorized (subject to investigation)
• Service Fees: Service fees may be refunded if we failed to provide the agreed service
• Pre-Transaction Cancellation: You may cancel a transaction before it is confirmed on the blockchain

Refund Request Process: To request a refund, contact our support team at info@swarppay.com within 14 days of the transaction. Include your transaction ID, account information, and a detailed explanation of your refund request. We will investigate and respond within 30 business days.

Important: Refunds, if approved, will be processed in the same currency and to the same source from which the funds were received. Cryptocurrency price fluctuations between the transaction date and refund date are the responsibility of the user.

11. TERMINATION

We may terminate or suspend your account and access to the Service immediately, without prior notice, if you breach these Terms of Service or for any other reason at our sole discretion.

12. CHANGES TO TERMS

We reserve the right to modify these terms at any time. We will notify users of any material changes via email or through the Service. Your continued use of the Service after such modifications constitutes acceptance of the updated terms.

13. GOVERNING LAW

These Terms of Service are governed by and construed in accordance with the laws of Italy, and you agree to submit to the exclusive jurisdiction of the courts in Milan, Italy for the resolution of any disputes.