Vitex Terms & Conditions

1. Introduction

These Terms and Conditions (the "Terms") constitute a legally binding agreement between you ("User", "you", or "your") and Vitex ("we", "us", or "our") governing your access to and use of the Vitex P2P Exchange platform and all related services (collectively, the "Platform").

By registering for an account, accessing, or using the Platform in any manner, you acknowledge that you have read, understood, and agree to be bound by these Terms, including any future modifications. If you do not agree to these Terms, you must immediately cease using the Platform.

2. Eligibility & Account Registration

To use the Platform, you must:

• Be at least 18 years of age or the legal age of majority in your jurisdiction, whichever is higher;
• Have full legal capacity to enter into binding contracts;
• Not be located in, or a resident of, any jurisdiction where access to or use of the Platform is prohibited by law or regulation;
• Not appear on any sanctions lists, restricted party lists, or similar governmental or international prohibitions.

You must provide accurate, complete, and current information during registration and maintain the accuracy of such information. We reserve the right to refuse, suspend, or terminate any account at our sole discretion, including if we suspect any violation of these Terms or applicable laws.

3. Nature of the Service (P2P Model)

Vitex provides a peer-to-peer (P2P) infrastructure that enables users to discover, post, and execute trades of digital assets (such as USDT) for fiat currencies (such as TRY, OMR, AED, and others) directly with one another. Key characteristics of our service include:

• Non-Party to Trades: We facilitate the connection between users but are not a party to any trade. Each trade is an independent agreement between two users.
• Fiat Transfers: Fiat currency payments occur directly between users via off-platform payment channels (e.g., bank transfers, mobile wallets). We do not handle or custody fiat funds.
• Escrow Service: Digital assets are temporarily held in our escrow wallet during active trades to protect both parties. Upon successful completion and confirmation, escrowed assets are released to the appropriate party.

We do not guarantee the completion of any trade, the accuracy of any order details posted by users, or the performance or reliability of any counterparty.

4. KYC, AML & Compliance

To comply with anti-money laundering (AML), counter-terrorism financing (CTF), and know-your-customer (KYC) regulations, we require all users to complete identity verification before engaging in trades. This includes:

• Providing valid government-issued identification documents;
• Verifying your residential address with acceptable proof of address;
• Confirming ownership of payment methods (bank accounts, wallets) in your verified name;
• Completing video verification or additional documentation as requested.

We reserve the right to request additional information, freeze accounts, delay withdrawals, or report any suspicious or unusual activity to relevant authorities. Failure to comply with verification requests may result in account suspension or termination.

5. User Responsibilities

As a user of the Platform, you agree to:

• Provide accurate, truthful, and up-to-date information at all times;
• Use only payment methods and wallets that are in your own name and match your verified identity on the Platform;
• Keep your login credentials, passwords, and any two-factor authentication devices secure;
• Review all order details, prices, and limits carefully before confirming any transaction;
• Respond promptly to trade requests and complete payments within the specified timeouts and time windows;
• Upload legitimate and accurate proof of payment when required;
• Communicate with counterparties respectfully and professionally through the in-platform chat;
• Report any issues, disputes, or suspicious activity immediately using the provided tools.

6. Orders, Matching & Escrow

6.1 Creating and Managing Orders

Users may post buy or sell advertisements ("Orders") specifying the digital asset, fiat currency, price, available amount, minimum and maximum trade limits, and a response timeout (e.g., 10, 20, or 45 minutes). Orders are visible to other users on the Platform.

You are responsible for ensuring you have sufficient balance (digital assets or fiat liquidity) to fulfill your Orders. Frequent cancellations or modifications may result in warnings, restrictions, or penalties.

6.2 Taking Orders

When a user accepts an Order, a trade request is created. The order creator must respond within the configured response timeout. If the creator does not respond, the request is automatically cancelled.

Once accepted, both parties have a maximum of 1 hour to complete the trade (payment and confirmation). This window may be extended once per party for an additional 30 minutes using the "Reopen" function, as described in the Platform's operational flow.

6.3 Escrow and Release

Upon acceptance of a trade request, the seller's digital assets are locked in escrow. Funds remain in escrow until:

• The buyer confirms payment and uploads proof;
• The seller verifies receipt of fiat and releases the escrow;
• A dispute is resolved by Platform support.

If the trade is not completed within the allowed time and no dispute is filed, the trade may move to "Pending review" status, and Platform support may intervene.

7. Fees & Taxes

The Platform may charge fees for certain services, including but not limited to trades, withdrawals, or deposits. All applicable fees are displayed transparently on the Platform before you confirm a transaction.

You are solely responsible for determining and paying any taxes, duties, or levies arising from your use of the Platform and your trades. We do not provide tax advice and recommend consulting with a qualified tax professional in your jurisdiction.

8. Risk Disclosure

• Price Volatility: Digital asset prices can fluctuate dramatically in short periods, leading to substantial gains or losses.
• Technical Risks: The Platform may experience downtime, technical failures, bugs, or cyberattacks that could affect access or transactions.
• Counterparty Risk: Other users may fail to complete trades, provide false information, or engage in fraudulent behavior.
• Regulatory Risk: Laws and regulations governing digital assets and P2P trading may change, potentially restricting or prohibiting your use of the Platform.
• Loss of Funds: You may lose some or all of your funds due to market conditions, user error, fraud, or security breaches.

You should only trade with funds you can afford to lose. We strongly recommend seeking independent financial, legal, and tax advice before using the Platform.

9. Prohibited Activities

You agree not to engage in any of the following activities. This list is non-exhaustive, and we reserve the right to determine what constitutes a violation:

• Money laundering, terrorist financing, fraud, or any other illegal activity;
• Using stolen, unauthorized, or third-party payment methods;
• Providing false, misleading, or fraudulent documentation or information;
• Manipulating prices, volumes, or market conditions (e.g., wash trading, spoofing);
• Abusing timeouts, disputes, or the escrow system to unfairly advantage yourself;
• Attempting to trade outside the Platform or bypass escrow for orders posted on the Platform (off-platform completion);
• Harassing, threatening, or defrauding other users;
• Reverse-engineering, hacking, or disrupting the Platform's infrastructure;
• Creating multiple accounts to circumvent restrictions or penalties;
• Any activity that violates applicable laws, regulations, or these Terms.

10. Suspension & Termination

We reserve the right to suspend, restrict, or permanently terminate your account and access to the Platform at any time, with or without notice, for any reason, including but not limited to:

• Breach of these Terms or the Trading Rules;
• Suspicious, abusive, or fraudulent activity;
• Failure to complete KYC verification or respond to information requests;
• Legal or regulatory requirements;
• Operational, security, or risk management reasons.

Upon suspension or termination, you may not be able to access funds in escrow or pending trades until any disputes or reviews are resolved. We may also report your activity to relevant authorities if required by law.

11. Limitation of Liability

To the maximum extent permitted by applicable law, the Platform and its operators, affiliates, partners, employees, and agents shall not be liable for:

• Any losses arising from price movements, market volatility, or changes in exchange rates between digital assets and fiat currencies;
• Delays, failures, or errors in payment processing by third-party banks, payment providers, or blockchain networks;
• Actions or omissions of other users, including fraud, non-payment, or breach of contract;
• Technical issues, downtime, bugs, or security breaches affecting the Platform;
• Indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or business opportunities.

In any event, our total liability to you for all claims arising from or related to your use of the Platform shall not exceed the total fees paid by you to us in the six (6) months preceding the claim, or $100 USD, whichever is lower.

Some jurisdictions do not allow the exclusion or limitation of certain damages, so some of the above limitations may not apply to you.

12. Disputes & Governing Law

12.1 Internal Dispute Resolution

If a dispute arises between you and another user regarding a trade, you must first attempt to resolve it using the Platform's dispute resolution tools (e.g., the "I have a problem" feature). Our support team will review the evidence submitted by both parties and make a determination, which both parties agree to respect.

12.2 Disputes with the Platform

Any disputes between you and the Platform shall be governed by the laws of [Jurisdiction Placeholder], without regard to its conflict of law provisions. You agree to first contact us at support@vitexchange.com to attempt an informal resolution.

If informal resolution is not possible, disputes may be submitted to binding arbitration or to the courts of [Jurisdiction Placeholder], as determined by the Platform at its sole discretion.

13. Changes to These Terms

We reserve the right to modify, amend, or update these Terms at any time. Changes will be effective immediately upon posting the revised Terms on the Platform, along with a new "Last updated" date.

Your continued use of the Platform after any changes constitutes your acceptance of the new Terms. We encourage you to review these Terms periodically to stay informed of any updates.

14. Contact

If you have any questions, concerns, or feedback regarding these Terms or the Platform, please contact us at:

Email: support@vitexchange.com

Support Center: Available through your account dashboard

Website: https://vitexchange.com