1. General Provisions
A. Basic Principles
a. LOA FOUNDATION PTE. LTD. ("LOA") seeks to comply with the applicable laws and regulations relating to personal data, including but not limited to the Personal Data Protection Act 2012 (Act No. 26 of 2012) of Singapore (collectively, the "Data Protection Legislation").
2. Collection OF PERSONAL DATA
A. Collection of Personal Data
a. Personal data which LOA may collect include, without limitation, a User's name, address, nationality, email address, phone number, gender, birth date, ID card, online identifier (such as username), device unique identity, operating system or version, hardware information, cookie, browser information, date and time spent on the Services, history log and financial information (such as credit card numbers, bank account information and digital or crypto wallet address).
b. LOA does not collect sensitive personal data (race, thoughts and beliefs, political beliefs, criminal records or medical records) which collection may constitute a violation of the fundamental human rights of the User.
c. LOA collects personal data in a number of different ways. For example:
I. where a User signs up for a membership on the Website, LOA will collect such User's e-mail address and password;
II. as part of the know-your-customer ("KYC") process by LOA, LOA may collect a User's name, nationality, contact details, country of residence, date of birth, sex, photo, identity documents (such as national identification card, driver's license, passport, etc.) and wallet address. Where required by the applicable law, LOA will redact or delete personally identifiable numbers such as the national identification number, the driver’s license number and the passport number;
III. during a User's interaction with the Website or use of any of the Services, LOA may collect technical information relating to such User's device and browser, such as: (1) device make and model, and Internet Protocol address; (2) operating system version, browser type and browser language; and (3) browsing actions and patterns etc.; and
IV.. when a User contacts LOA (such as to report a problem with the Website or to provide feedback), LOA may keep a copy of the correspondence and any further information provided by such User.
B. Method of Collection of Personal Data
a. In relation to any User, LOA may collect personal data either:
I. when such User (or its authorized representative) voluntarily provides such personal data to LOA, for example, when completing the KYC process or when subscribing for the use of, or in the course of using, the Services; or
II. automatically, during such User's interaction with the Website and use of the Services.
b. Where a User voluntarily provides any personal data or information, such User represents and warrants that:
I. such personal data or information is accurate and complete; and
I. when such User (or its duly authorized representative) voluntarily provides the personal data;
II. when such User (or its duly authorized representative) is aware of the purpose for which the personal data is provided;
III. it is reasonable for such User (or its duly authorized representative) to have provided the personal data to LOA in the circumstances; or
iv. any other circumstances where the Data Protection Legislation provides for the deemed consent of such User.
3. Purpose of Collection and Use of Personal Data
A. Purpose of Collection and Use of Personal Data
a. LOA may collect and use personal data for any of the purposes as set forth below:
I. for LOA to perform its obligations in the course of, or in connection with, the provision of Services requested by the relevant Users;
II. verifying and authenticating the identity of its Users;
III. managing use of, or subscription to, the Services, including for example, creating and managing user accounts;
IV. providing, maintaining, improving and delivering content and Services. For example, LOA may collect anonymous analytics and statistical information from its users to verify the effectiveness of the Services, the frequency of access or conducting statistical analysis;
V. facilitating any potential token sale organized by LOA, including carrying out any KYC checks on potential purchasers and holders of such tokens;
VI. where a User has agreed to receive marketing and advertising communications, informing such User of new service developments, customized services, events and other customized marketing and advertising information.
VII. communicating with Users, such as responding to, handling, and processing queries, requests, applications, complaints and feedback;
VIII. conducting investigations or internal audits, or taking action, including in relation to any violation of the laws or terms and conditions applicable to the use of the Website or any of the Services;
IX. complying with any applicable laws, regulations, codes of practice, guidelines or rules or to assist in law enforcement and investigations conducted by any governmental or regulatory authority;
X. any other purposes for which the relevant User has provided the personal data;
XI. transmitting to any third parties (including, for example, third party service providers and agents and relevant governmental and regulatory authorities, whether in Singapore or elsewhere) for the aforementioned purposes; and
XII. any other purposes which are necessary, ancillary or consequential to the above.
b. LOA may continue to collect, use, disclose or otherwise process personal data for any of the purposes listed above, even in situations where the User's relationship with LOA (for example, pursuant to a contract) has been terminated or altered in any way, for a reasonable period thereafter (including, where applicable, a period to enable LOA to enforce its rights against the User).
c. LOA will collect, use, disclose and otherwise process the User's personal data only for the purposes set out in Article 5(a) and only to the extent allowed under the Data Protection Legislation. LOA will not collect, use, disclose and otherwise process the User's personal data for any other purpose save where:
I. the User consents to such collection, use, disclosure and processing of the personal data;
II. the personal data has been processed to be personally unidentifiable, and will be used for statistical analysis; or
III. where such collection, use, disclosure and processing are otherwise required by law or upon lawful request by governmental authorities.
4. Disclosure of Personal Data
A. Basic Principles of Sharing and Provision of Personal Data
LOA may disclose personal data to third parties:
a. where such disclosure is required for LOA to perform its obligations in the course of or in connection with its provision of the Services requested by the User; or
b. where such disclosure is to a third-party service provider, agent or other organization performing any of the functions listed in Article 5 on behalf of LOA.
B. Transfer of Personal Data outside of Singapore
a. LOA shall only transfer personal data outside Singapore in accordance with the Data Protection Legislation.
b. Each User agrees, acknowledges and consents that due to the nature of the Services, personal data may be stored or processed in any country where LOA has operations (including but not limited to Singapore, the Republic of Korea) or engages third party service providers.
C. Outsourced Handling of Personal Data
LOA may outsource the handling of Users' personal data to third party service providers for the purposes of performing KYC checks, anti-money laundering checks, countering terrorism financing checks and/or any other checks as required by the applicable laws on the Users. For the purposes of such handling:
a. LOA may disclose and transmit the personal data to its third-party service provider.
b. LOA may disclose and transmit the following types of personal data to the third-party service providers.
c. The personal data may be disclosed and transmitted by LOA to the third-party service providers who will store and retain such personal data in not limited but including Singapore and the ROK
d. The personal data will be disclosed and transmitted to the third-party service provider immediately upon LOA's receipt of the personal data; and
e. The third-party service provider shall protect and retain the personal data in accordance with LOA's written instructions.
5.Retention of the Personal Data
A. Basic Principles of Retention of the Personal Data
a. LOA shall retain personal data for as long as is necessary to fulfill the purpose for which the personal data was collected, or as required or permitted by the applicable laws.
b. LOA will cease to retain personal data, and remove the means by which the personal data can be associated with individual Users, as soon as it is reasonable to assume that such retention no longer serves the purpose for which the personal data was collected, and is no longer necessary for legal or business purposes.
B. Process and Method of Destruction of Personal Data
a. LOA shall destroy the personal data in accordance with Article 10(b) within 5 days from the date when the period for retention of the personal data under Article 9 expires.
b. LOA will destroy the personal data by any of the following methods:
I. Personal data recorded or stored on paper: by shredding or by incinerating; or
II. Personal data stored electronically: by deleting the files permanently using technical methods such as low-level formatting so that the records cannot be recovered.
6.Rights of Users
A. Right to Withdraw Consent to Collection, Use and Provision of Personal Data
a. A User can withdraw his/her consent for the collection, use, disclosure and processing of personal data at any time by writing to LOA's Data Protection Officer at the email address set out at Article 20 below.
b. Upon receipt of the request to withdraw the User's consent, LOA will require a reasonable time to process the request and for LOA to notify the User of the consequences of such withdrawal, including any legal consequences which may affect the User's rights and liabilities. In general, LOA shall seek to process the request within 30 calendar days of receiving the same.
c. Depending on the nature and scope of the withdrawal of consent, in certain cases, LOA may not be able to continue providing the User with certain Services.
d. The User's withdrawal of consent does not affect LOA's right to continue to collect, use, disclose and process personal data where such collection, use, disclosure and processing without consent is permitted or required under the applicable laws.
B. Request for Access to and Correction of Personal Data
a. A User may make:
I. an access request, for a copy of that User's personal data which LOA holds, or for information about the ways in which LOA uses or discloses that User's personal data; or
II. a correction request, to correct or update any of the personal data which LOA holds about that User,
by contacting LOA's designated Data Protection Officer, whose details are set out at Article 20.
b. Where the User requests for correction or deletion of the personal data, LOA will not use or provide the personal data of that User until the correction or deletion of the personal data is complete, and will response to the User's request in good faith. If the correction or deletion is deemed to be necessary due to any errors in the personal data or expiration of the retention period, LOA will take necessary measures without delay.
c. LOA may ask the User to verify his/her identity and for more information about the request. Where LOA is legally permitted to do so, LOA may also refuse the request with or without providing the User with any reasons for doing so.
d. Where the User has made an access request, LOA may charge a reasonable administrative fee to cover the costs of responding to such request. If LOA decides to do so, LOA will provide the User with a written estimate of such fee before processing such request.
C. Exercise of Rights by Proxy
The User may exercise such User's rights under this Chapter 6 through his/her legal representative or agent. In this case, the User shall submit a power of attorney under the relevant Data Protection Legislation to LOA.
7.Installation/Operation and Rejection of Automatic Data Collection Tools
b. LOA uses the cookies for the following purposes:
I. maintenance of the User's access session;
II. analysis of service visits and uses; and
III. secured access.
c. The User has the option to install the cookies. Accordingly, the User may permit all cookies, or go through confirmation whenever the cookies are saved, or reject saving of all cookies, by configuring his/her web browser appropriately. However, if the User rejects the installation of the cookies, this may adversely affect the User's browsing experience, and the User may also face difficulties in using the Services.
8.Protection of the Personal Data
A. Basic Principles of Protection of the Personal Data
a. LOA shall take reasonable steps to secure and protect personal data in its possession by implementing measures to secure and protect such personal data as required to comply with the Data Protection Legislation, including:
I. reasonable security arrangements to prevent unauthorized access, collection, use, disclosure, copying, modification, disposal or similar risks to personal data; and
II. security precautions safeguarding all electronic storage and transmission of personal data.
b. While LOA strives to use commercially acceptable means to protect personal data, no method of transmission over the Internet or method of electronic storage is completely secure and LOA cannot ensure absolutely the security of any personal data in its possession or control.
c. To the fullest extent permitted by the law, LOA shall not be liable in any manner for any losses arising from any unauthorized collection, use, disclosure or otherwise processing of personal data.
B. Minimum Staff and Staff Training
C. Establishment and Execution of Internal Management Plan
LOA has established and is executing an internal management plan to ensure secured processing of the personal data.
D. Encryption of Personal Data, etc.
The User's personal data is encrypted for storage and management, such that only the User and the appropriate LOA staff have access to it.
E. Restriction on Access to Personal Data
LOA takes reasonable measures to control access to the personal data by granting, changing or revoking access to the database system that processes the personal data as necessary, and controls unauthorized access from external networks by using firewalls.
A. Data Protection Officer
The User may notify the following staff of any complaint related to the protection of personal data that may occur when using the Services, or to request for access to or correction of personal data:
Name: Ethan Han
b. If LOA wishes to obtain additional consent from the User in order to use the personal data or outsource handling of the personal data to a third-party service provider beyond the scope agreed by the User, LOA will individually give the Users a written notice prior to doing so.
B. Remedies Available for Violation of Rights and Interests
The User may make inquiries about remedies or consultations available for infringement on the personal data to the institutions set forth below, which are independent from LOA. If the User is not satisfied with the results of LOA's own handling the complaints or the remedy related to the personal data or needs more information, he/she may contact the Personal Data Protection Commission of Singapore at the contact details set out on https://www.pdpc.gov.sg/.
1. General Provisions
The purpose of these General Terms and Conditions for LOA Services ("Terms and Conditions") is to set forth the rights, obligations and responsibilities of LOA FOUNDATION PTE. LTD. ("LOA") and the User (as defined below) in relation to the use of the website features, products and services provided by LOA on the Website (collectively, "Services").
a. These Terms and Conditions shall apply to all the Services, excluding Services which may have separate terms and conditions and which do not incorporate these Terms and Conditions.
b. In relation to any User, these Terms and Conditions shall be effective immediately upon the earlier of (i) the initial use of such Services, and (ii) the acceptance of these Terms and Conditions by the User.
Unless the context otherwise requires, the following definitions shall apply in these Terms and Conditions:
means the electronic means through which a User may access the Services on a mobile device.
means know-your-customer checks as required by the applicable laws, including but not limited to any applicable anti-money laundering rules and any applicable countering the financing of terrorism rules.
means the User who accesses the Website and who has been registered with LOA as a member pursuant to Chapter 2.
means the number decoding the Public Key-encoded information.
means a unique number that specifies the Wallet and which is disclosed to the public.
has the meaning given to it in Article 1.
means the ERC-20 standard tokens known as "LOAPROTOCOL tokens", which LOA intends to issue.
means you, the person using the Website or the Services, and if you are using the Website or Services on behalf of an entity, references to "User" means you, that entity or both, as appropriate.
means the technical solution to store the private and public keys of the wallet and to send and receive cryptographic digital tokens such as the Tokens. "Website" means the website located at [https://loaprotocol.io/].
D. Amendment of the Terms and Conditions
a. LOA may amend the Terms and Conditions at any time without notice to the Users.
b. Upon any amendment to these Terms and Conditions, (i) the amended part of these Terms and Conditions shall be compared against previous Terms and Conditions and distinguished for disclosure, and (ii) the latest version of the these Terms and Conditions (incorporating the latest amendments) shall be displayed on the main page of the Website and shall become effective as of the moment the such latest version is displayed if not otherwise specified by LOA.
c. If any User does not agree to the amended Terms and Conditions, (i) such User should cease use of the Website and the Services and (ii) if such User is a Member, such User should withdraw from the membership. To the fullest extent permitted by the applicable laws, by continuing to use the Website or the Services after these Terms and Conditions are amended, such User shall be deemed to have agreed to be bound by the amended Terms and Conditions.
2.Application for Membership
A. Registration as a Member
a. Access to certain Services requires the relevant User to register with LOA as a Member.
b. Any User who wishes to register as a Member must:
I. submits an application for membership via the Website;
III. provide the relevant information requested by LOA in connection with such User's application, which shall include, without limitation, ID, password, e-mail address and the information required by LOA for its KYC Checks, such as name, nationality, gender, date of birth, identification card, country of residence, video (image) information and address of the Wallet owned and controlled by the User.
c. By applying for membership, th
I. represents and warrants that all information submitted during the application process is true and accurate;
III. undertakes to:
1. ensure that all information submitted to LOA from time to time remains accurate and updated;
2. maintain the security and prevent the misuse of any membership credentials issued by LOA in connection with the use of the Website and the Services;
3. be fully responsible for, and bound by, any and all use of the Website and the Services referable to such User's membership, whether or not authorized by such User; and
B. Review of application for membership
a. Upon receipt of an application for membership, LOA shall as soon as practicable review the application and notify the applicant of whether such application has been accepted. Whilst LOA intends to notify the applicant of the results of the application within 2019.08.31 calendar days from the date of submission of the application and all required documents, there may be a delay in the event that there is a high volume of applications.
b. LOA reserves the sole discretion to reject any application for membership for any reason and to withhold information concerning such decision.
A. My Page
The function of My Page will be provided only to Members.
Certain Services are only accessible via the Application. Accordingly, a User must install the Application on such User's mobile device in order to access such Services.
C. Cryptocurrency Wallet
In the event that LOA provides a cryptocurrency wallet service, LOA intends to only (i) make such service available via the Application, and (ii) to issue one Private Key and one Public Key per account.
The function of dashboards will be provided only to the Member.
Newsletters will be provided only to Users who have provided their e-mail address and who have consented to receive such newsletters.
4.Modification, Withdrawal or Termination of Membership
Any Member may modify the information provided by such Member to LOA via the Website via the dashboard on the Website or through such other means specified by LOA from time to time.
To the fullest extent permitted by the applicable laws, save for information which may be required to be retained by LOA for its legal and business purposes, any information provided prior to the modification shall be destroyed within 7 calendar days from the date of application for the modification.
Any User may withdraw as a Member by submitting a withdrawal application to LOA via email to email@example.com. Upon successful withdrawal, such User's membership shall be deemed terminated on and from the date of withdrawal.
To the fullest extent permitted by the applicable laws, save for information which may be required to be retained by LOA for its legal and business purposes, all other information provided by the Member to LOA in connection with such Member's membership will be destroyed within 7 days from the date of withdrawal. As an example, the information on the cryptocurrency that is to be received by the Member will not be destroyed.
C. Suspension and Termination
LOA reserves the right, exercisable in its sole discretion at any time without prior notice, to suspend, restrict or terminate (as the case may be) the membership of any Member in the event that LOA becomes aware (or suspects) that such Member has breach any of these Terms and Conditions. To the fullest extent permitted by the applicable laws, such right shall be exercisable by LOA without owing any liability to the Member.
If a User has any query, feedback or objection relating to the use of the Services, such User may contact LOA by sending an email, enclosing all relevant information, to firstname.lastname@example.org. LOA shall seek to respond to such email as soon as practicable.
A. Limitation of Responsibility and Liability
a. The Website and the Services are provided on an "as is" and "as available" basis. No representations or warranties of any kind, implied, express or statutory, including the warranties of non-infringement of third-party rights, title, merchantability, satisfactory quality or fitness for a particular purpose, are given in conjunction with the Website or any of the Services.
b. The information on the Website is provided for reference only and is not intended to replace or serve as substitute for any legal, technical, financial or professional advice. Such information contains statements that are based on the information and resources available at the time of writing from sources believed to be reliable. To the fullest extent permitted by the applicable laws, LOA does not accept any liability arising from any inaccuracy or omission in or the use of or reliance on the information on the Website.
c. Where the Website contains hyperlinks to third-party websites, such third-party websites are independent from this Website and the use of such hyperlinks is entirely at the User's own risk. LOA accepts no responsibility for the content, or the use of, such third-party websites and shall not be liable for any loss or damage caused or alleged to be caused by or in connection with use of or reliance on any content, products or services available on or through any of these third-party websites.
To the fullest extent permitted by the applicable laws, in relation to any User, LOA shall not be liable for:
a. any non-performance, error, interruption or delay in the performance of its obligations under these Terms and Conditions (including, without limitation, the provision of the Services) if this is due, whether in whole or in part, to a circumstance or event beyond its reasonable control;
b. any failure to use the Services and any failure relating to the transfer of cryptographic digital tokens due to any causes attributable to such User;
c. the loss of any benefit which such User expected to acquire through the Services; and
d. such User's loss of, or failure to secure, the Private Key to such User's Wallet.
A. Intellectual Property
The intellectual property rights in the Website and to the Services are owned, licensed to or controlled by LOA and the respective third-party proprietors. The content on this Website may not be modified, reproduced, displayed, broadcast, hyperlinked, mirrored, framed, transferred or transmitted in any manner without the prior written permission from us or the relevant third-party proprietors.
In the event that these Terms and Conditions are translated or entered into in any language other than English, the English language version of these Terms and Conditions shall govern and shall take precedence over the translated version.
All agreements, notices, disclosures, and other communications by LOA to the Users including these Terms and Conditions, will be in electronic form.
E. Rights of Third Parties
In relation to any User, except as otherwise provided herein, no person, other than such User, LOA and its related corporations, shall have any right to enforce any provision of these Terms and Conditions under the Contracts (Rights of Third Parties) Act (Cap. 53B) of Singapore or any similar legislation in any jurisdiction.
If at any time any provision of these Terms and Conditions is or becomes illegal, invalid or unenforceable in any respect, the legality, validity and enforceability of the remaining provisions of these Terms and Conditions shall not be affected or impaired thereby, and shall continue in force as if such illegal, invalid or unenforceable provision was severed from these Terms and Conditions.
No waiver of any term, provision or condition of these Terms and Conditions by LOA shall be effective unless such waiver is evidenced in writing and signed by LOA. No omission or delay on the part of LOA in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or privilege preclude any other or further exercise thereof or of any other right, power or privilege. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.
8.Governing Law and Dispute Resolution
A. Governing Law
These Terms and Conditions and any non-contractual obligations arising out of or in connection with these Terms and Conditions shall be governed by and construed in accordance with the laws of Singapore (without regard to its conflict of laws principles).
B. Dispute Resolution
Any dispute arising out of or in connection with these Terms and Conditions (including, without limitation, the enforceability of this arbitration clause and any question regarding its existence, validity or termination) shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre in accordance with the Arbitration Rules of the Singapore International Arbitration Centre for the time being in force, which rules are deemed to be incorporated by reference in this arbitration clause. The seat of the arbitration shall be Singapore. The arbitral tribunal shall consist of 1 arbitrator. The language of the arbitration shall be English.
The International Arbitration Act (Cap. 143A), as amended from time to time, shall apply to any arbitration proceedings commenced under these Terms and Conditions.