Terms and Conditions
Terms of Services – User
This Terms of Service (“Terms”) serves as a legal contract between RACEconomy, Inc. (“RACE™”) and yourself (“You”). By accessing or using any of the services provided by RACE™ (“Service”) on our Website (“Site”), you agree that you accept the terms and conditions contained within these Terms. If you do not agree to these Terms, do not use the Service.
Intellectual Property Rights
RACE™ owns and retains all rights, title, and interest in and to the Services and the Site, including but not limited to all software information, data, and Intellectual Property related to the aforementioned. Any reproduction or redistribution of the Service or the Service Content is strictly prohibited, and we reserve the right to terminate our Service to you if you were to violate the Terms.
RootCorp has developed software for the last 3 years. The platform is called RACEconomy. RootCorp has been a core contributor to the software development. The software acts as a blockchain platform and financial technology as a service – Software As A Service. The platform helps tokenize assets, and facilitates service providers to provide services, asset owners to propose projects, and investors to invest in projects. The platform has been designed in such a manner that a decentralized group of entities can mint tokens and currencies, and also exchange them in a marketplace like format.
Our Services & its Usage
RACE™ operates the Site to support the RACE™ Token Sale (“Token Sale”). The Site allows you to purchase RACE™ Token. Please see the Whitepaper available on the Site for details of the RACE™ Token. Any sale of RACE™ Token is subject to the terms and conditions set out in the Whitepaper which can be downloaded from www.race.io. You are required to read and understand the Whitepaper, including the terms and conditions, before participating in the Token Sale or purchasing RACE™ Token. RACE™ reserves the right to control, manage and/or modify the Whitepaper and the terms and conditions of the Token Sale sold via our Services. As such, you are strongly advised to refer to the latest Whitepaper based on the version number and date. For the avoidance of doubt, RACE™ is not obliged to notify you of any changes to the Whitepaper.
Third Party Websites
RACE™ does not exercise any control over any third-party websites or services which may be available on the Site. Therefore, you agree that RACE™ is not liable for any services provided by the third-party website that you were directed to and you shall be subjected to the terms and conditions of the respective third party. You agree that you will be using the third-party services at your own risk. Hence, RACE™ will not be liable for any losses, damages, costs, or other expenses arising from your use of third party services.
Registering for an Account
In order to participate in our RACE™ Token sales and/or to use RACE™ services, you may be asked to fill up a form (“Account”) as it is necessary to obtain certain information about you in order to ensure that the purchase of RACE™ Token by you complies with applicable law or regulation. You may be required to provide certain information and this information shall include and is not limited to your name, email address, nationality, country of residence, and relevant supporting documentation. You acknowledge that you shall provide this information as per requested as well as to provide further information promptly upon request to complete the purchase. You also acknowledge that all information provided shall be accurate, current and it is your sole duty to ensure that the information provided shall be updated constantly to keep it accurate, current, and complete.
RACE™ reserves the right to suspend your registration or refuse your purchase of RACE™ Token if: (a) we do not receive any information from you that is able to determine that it is permissible to sell RACE™ Tokens to you under applicable laws and regulations; and/or (b) if it is suspected that information provided by you is inaccurate, not current or incomplete.
RACE™ reserves the right to terminate your participation without prior notice, if you: (i) violate the Terms, or; (ii) use the account for illegal or improper purposes, or; (iii) use the Service for illegal or improper purposes, or; (iv) infringe a third party intellectual property rights. Once your account has been terminated or suspended due to the aforementioned reasons, all benefits and user’s rights shall be revoked, and no refund will be granted to you.
Representation and Warranties
You warrant that you will not use our services for any fraudulent, unlawful, or abusive purpose.
The content of the Site is provided on an “as-is-where-is” basis without representations or warranties of any kind. RACE™ makes no warranties or representation about the accuracy or completeness of the content of the Service and the Site and assumes no liability or responsibility for any loss, damage, and/or penalty faced by you for using our Services and/or the Site. RACE™ does not guarantee and is not responsible to perform any verification of information provided by you, the accuracy of your information provided is your sole responsibility.
Notice of High Risk
You understand that any purchase of RACE™ Tokens carries a high risk of losing the entire amount which you paid for the RACE™ Tokens. Hence, you shall waive all rights to seek any legal remedy on your own or through any class action litigation in order to recover the purchase amount from RACE™. Nothing in this Agreement nor any conversation and communication made by RACE™, verbal or non-verbal, shall imply a positive or punitive return on investment from the amount you paid for RACE™ Tokens or that the Tokens will carry forth its intended usage. You further warrant that losing the entire purchase amount, will not adversely affect your livelihood, obligations, and dependents. For the avoidance of doubt, RACE™ hereby expressly states to you that the purchase of the RACE™ Tokens represents a financially high-risk activity and that you shall fully bear all losses which may be incurred from this purchase.
RACE™ does not warrant that the Service and/or Site are error-free or will operate without interruption or are compatible with all equipment and software configurations. RACE™ shall not be liable for any loss whatsoever arising from the use of the Service or Site. RACE™ shall not be responsible for any system failures or other interruptions that may affect your purchase process.
Limitation of Liability
RACE™ shall not be liable to you or any third party under any circumstances (including negligence or breach of statutory duty) or otherwise for any indirect or consequential loss or damage of any kind including punitive or exemplary damages or losses, including but not limited to damages for loss of profits, goodwill, use, data or other intangible losses which may be incurred in connection with RACE™ or its services and site. RACE™ shall not be liable for any unauthorized transactions arising from unauthorized, illegal, or fraudulent use of the service and site.
RACE™ reserves the right, in its sole discretion, to revise or modify these Terms at any time, and you agree to be bound by such revisions or modifications. You are responsible for viewing these Terms periodically. Your continued use of the Site or Service after a change or modification of these Terms will constitute your acceptance of the revised Terms. If you do not agree to the modified Terms, you should refrain from using our Services and the Site.
Governing Law & Dispute Resolution
The Terms shall be governed by the law of the Republic of NEVIS.
In the event, if you do not agree for RACE™ to process your data, please notify RACE™ via email at email@example.com.