GRAFT ITO TERMS AND CONDITIONS
Last updated: 18th October 2017
The Initial Token Offering (ITO) is subject to the following Terms and Conditions (Terms) and these Terms will govern the sale of GRAFT token.
“Company” is exclusively understood as Graft Polymer Inc., registered in the British Virgin Islands (BVI).
“GRAFT POLYMER Inc” means the Company the owner of GRAFT token and the beneficiary of the ITO.
“Blockchain” Means a digital ledger in which bitcoin or another cryptocurrency transactions are recorded chronologically and publicly.
The public blockchain account of the Company and information about the Graft token is located on the Web site:
“Cryptocurrency” Means a digital currency in which encryption techniques are used to regulate the generation of the units of currency and to verify the transfer of funds, operating independently of (a central banks).
“ITO” Means “Initial Token Offering” which is a method of crowdfunding where new tokens are sold in order to raise funds.
“GRAFT” Ticker (name) on the token on the Bitshares network.
“Participant” Means a legal entity (such as an individual, a company, or partnership) that actively participates in this initial token offering.
“Terms” Means these terms and conditions.
“Website” Means http://www.GraftPolymer.io
“White Paper” Means the white paper setting out the concept of GRAFT POLYMER ITO, which can be found at http://graftpolymer.io
“Prospectus” means a document that defines the key conditions for conducting an ITO, which can be found at http://graftpolymer.io
GRAFT is a token that is being offered by the Company under these terms and conditions.
GRAFT is a user issued asset created on the BitShares network.
GRAFT token is being offered by the Company. Any participant is advised to read the White Paper which provides an explanation of the concept of ITO GRAFT, the purpose of GRAFT and the token holder.
These Terms, White Paper and Prospectus determine the status of the Graft token, as a derivative to the Graft Polymer Inc. shares; in the ratio of 1.000 Graft tokens are equal to 1 Share of the Company.
The ITO is a token sale, which enables the Participant to get a potential profit only from the sale of GRAFT token on a later date to be determined at the Participant’s discretion.
The ITO is to provide the GRAFT POLYMER Inc. with immediately accessible funds raised from the ITO for development of the declared project of the Company and this is further explained in the White Paper.
1.1 It is assumed by the Company that any Participant is of an expert and sophisticated nature and fully understands the workings of crypto currency, the blockchain and how an ITO works.
1.2 In order for a Participant to participate, they agree that:
i) They are over the age of 18 years or are over the age of consent for a Participant to legally enter into a contract.
ii) That they have sought the relevant legal, tax and regulatory advices from a suitably qualified professional as to the legality of an ITO in their jurisdiction.
iii) That they understand that the ITO is not being offered to any Participant that resides in a jurisdiction that is regulated by laws of the countries where transactions with cryptocurrencies are restricted, for example the United
States of America, Singapore, China etc.
The Participant is solely responsible for understanding and complying with any and all laws relevant in the jurisdiction in which they reside. The Company cannot be held liable for any legal risks and disputes arising from jurisdiction
of the Participant.
iv) That they are responsible to determine which, if any, taxes apply to any profits made and to report and remit the correct tax to the appropriate tax authority. The Company is not obligated to determine which, if
any, taxes apply and are not responsible to collect report or remit any such taxes arising from profits earned by the Participants.
v) That they will not participate in the ITO for any purposes related to organized crime, fraud, tax evasion, money laundering and financing terrorism. The Participants understand that Company will at all times co-operate
with any police, anti-criminal or relevant authority’s investigations relating to the Participant’s breach of these Terms.
vi) That they are deemed to have the requisite experience to understand cryptotokens, cryptocurrency and blockchain technology.
vii) They understand and agree that nothing in these Terms, nothing in the White Paper, Prospectus and nothing on the Website is intended to provide the Participant with tax, accounting or legal advice or is to be interpreted as a
recommendation, endorsement or enticement to participate with regards to GRAFT ITO. Any decision by a Participant to participate is at their sole discretion and the Company will not be liable for any loss
viii) That any purchase of GRAFT token is non-refundable and is final.
ix) That when the PRESALE ITO launches, a public supply of 5.000.000 GRAFT token will be listed for sale on the BitShares decentralized exchange at https://bitshares.org/wallet/#/market/GRAFT_OPEN.BTC
x) By accepting these terms and conditions I certify and commit to any future participant identification which may be possible and legally required under money laundering regulations.
It is currently impossible to verify with any certainty the individual purchasers of GRAFT token by nature of their purchase on-line via bitcoins. The directors of GRAFT ITO working with their specialist solicitors will endeavor to
find a solution to this in due course.
The Company is committed to ensuring best practice and working in accordance with any future regulatory body overseeing the relatively new space of cryptocurrency.
xi) They will adhere to these Terms and agree to be bound by them.
2. Timetable for PRESALE ITO
2.1 Timing of the ITO is as follows:
i) At 8.00 (+2 UTC) on the 24th October 2017.
ii) At 23.59.59 (+2 UTC) on the 24th November 2017, the presale ITO will close.
2.2 The Company reserves the right to extend the presale ITO for any reason, including, but not Company to, any unforeseen technical difficulties which hamper the original ITO timetable.
If all GRAFT tokens are sold prior to 23.59.59 (+ 2 UTC) on the 24th November 2017 then the presale ITO will be closed at the point when the last GRAFT is sold.
3. Whole agreement
This Agreement constitutes the entire agreement and understanding of the parties with respect to its subject matter and supersedes all prior oral communications and other written agreements between them.
4. Jurisdiction and Applicable Law
These terms and any dispute or claim arising out of them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with British law. The courts under the British
law will have exclusive jurisdiction over any claim or dispute.
5. Rights of third parties
For the purposes of the Contracts (Rights of Third Parties) Act 1999 and notwithstanding any other provision of this agreement, this agreement is not intended to, and does not give any person who is not a party to it any right to enforce
any of its provisions.
6. Force Majeure
A party shall not be liable for any failure of or delay in the performance of this agreement for the period that such failure or delay is:
i) beyond the reasonable control of a party,
ii) materially affects the performance of any of its obligations under this agreement, and
iii) could not reasonably have been foreseen or provided against, but will not be excused for failure or delay resulting from only general economic conditions or other general market effects.
If any part of these Terms is declared unenforceable or invalid, the remainder will continue to be valid and enforceable.
8. Updates to Terms
Company reserves the right to amend these Terms at any time and a Participant is advised to periodically check these Terms by visiting the Website.
9. For further information relating to this ITO, please visit the Website at http://graftpolymer.io