Terms and conditions

1. ACCEPTANCE OF THE TERMS OF USE

The general terms and conditions of use (hereinafter the “Terms of Use”) establish the rules and conditions for using the website https://abarai.ro/ (hereinafter the “Website”), which is owned by **CHIDORI TECHNOLOGIES S.R.L.**, a limited liability company registered in Romania, having its registered office in Cluj-Napoca Municipality, Strada Suceava no. 61A, Cluj County, registered with the Trade Register under no. J12/984/2023, unique registration code 43894338, and European Unique Identifier (EUID) ROONRC.J12/984/2023 (hereinafter the “Company” or “Chidori Technologies”).The contracts governed by the rules detailed in these Terms of Use are those concluded and performed exclusively through the Company’s Website.By accessing and using the services offered by Chidori Technologies through the Website, the client confirms that:
  • they were previously informed of the existence of these Terms of Use; they have read, understood, and agree to be legally bound by them and to comply with all applicable laws and regulations regarding the use of the services offered by the Company;
  • they were informed of the conditions under which the Company processes personal data, the reasons requiring such processing, and how the data will be used;
  • they understand and acknowledge that these Terms of Use constitute a binding and enforceable legal agreement between them and the Company and that they consent to enter into the contract in accordance with the provisions contained herein.

2. DEFINITIONS

Services – virtual currency exchange services, such as exchanging Fiat Currency into Virtual Currency or exchanging Virtual Currency into Fiat Currency.

Address – an alphanumeric address generated free of charge, consisting of the public key and the private key, which enables the secure transfer of cryptocurrencies. The Address identifies the destination to which cryptocurrencies are sent.

Suspicious Address – an alphanumeric address in relation to which transactions have been conducted that are reasonably suspected to involve assets derived from criminal offences and/or where the person transacting or their representative is not who they claim to be; an address is also suspicious if transactions have been conducted that exhibit characteristics likely to raise suspicions regarding the nature, economic purpose, or motivation of the transaction, as well as where there are indications that the data held about the client or the beneficial owner are not real or up-to-date.

ATM (automated teller machine) – a machine that enables the rapid conversion of fiat currency into cryptocurrency or vice versa, giving the client the possibility to quickly make or receive payment in fiat currency (LEI or EURO), depending on whether they purchase or sell cryptocurrency.

Bitcoin – a decentralized electronic payment system and a digital currency. The design of Bitcoin enables holding and transferring value. Bitcoins can be stored on a personal computer as a wallet file or with a third-party wallet service, and in both cases bitcoins can be sent over the internet to any person with a Bitcoin address.

Private Key – a secret set of data that enables the transfer of cryptocurrencies held in a given wallet via a cryptographic signature. Together with the public key, it forms the “address” to or from which cryptocurrency transfers are made.

Public Key – a set of data that may be known by third parties and which, together with the private key, forms the “address” to or from which cryptocurrency may be transferred. Knowledge of the public key alone does not allow third parties to access or use the cryptocurrency associated with a given address.

Client – the natural person who, in their own name, concludes the cryptocurrency (Bitcoin) trading contract, either for the purpose of transferring for consideration cryptocurrency they own or for the purpose of purchasing cryptocurrency.

Client with limited transaction value – in the case of any individual transaction having a value less than the equivalent of 4,900 lei or 1,000 euros. The Client’s billing details must be provided.

Identified Client – the Client who has successfully completed the identity registration process. Applies to all individual transactions having a value greater than or equal to the equivalent of 4,900 lei or 1,000 euros. Identification is also required for transactions below the above threshold where the Client uses an Address already used during the same day for one or more anonymous transactions whose values, aggregated with the value of the latter transaction, equal or exceed the 4,900 lei or 1,000 euro threshold.

Commission – the amount owed by the Client for any transaction governed by these general contractual conditions. The amount represents the price of the service provided by Chidori Technologies and is calculated as a percentage of 8% of the transacted value. If the Client wishes to purchase Cryptocurrency, they must pay (in LEI or EURO) an amount equal to 108% of the Purchase Price of the Cryptocurrency purchased. If the Client wishes to sell Cryptocurrency, the Company will pay them 92% of the Cryptocurrency Sale Price, retaining the 8% commission. Chidori Technologies reserves the right to modify this commission, with the new commission applying to all contracts concluded after its publication in the revised general contractual conditions displayed at https://abarai.ro/

3. SERVICES OFFERED BY CHIDORI TECHNOLOGIES

Through the Website and ATMs, Chidori Technologies offers virtual currency exchange services, such as exchanging Fiat Currency for Virtual Currency or Virtual Currency for Fiat Currency.The Client must hold their own Wallet for Virtual Currency or Fiat Currency. The Company does not provide any custody services for Virtual Currency or Fiat Currency.The Client using the Services offered by Chidori Technologies acts in their own name when entering into the contract. Any agreement between the Client and third parties—natural or legal persons—authorizing the Client to act on their behalf is unenforceable against Chidori Technologies. The Company is legally engaged exclusively in relation to the user of the Services, the only person who is a party to the contract concluded with Chidori Technologies. All contractual obligations towards the Company are assumed exclusively by the Client (natural person).If the amount of money paid by the Client in performance of the contract was borrowed or otherwise obtained from a third party, this does not grant such third party any status in relation to the contract concluded with Chidori Technologies and does not entitle it to make claims against the Company regarding the performance of the contract.Possession by the Client of the Private Key associated with a given address presumes, in relation to the Company, that the Client is the holder of the cryptocurrencies transacted, without any third party being able to later assert claims against Chidori Technologies, even if they could demonstrate that they were the holder of the respective Address and that the transfer of Cryptocurrency was made by the Client without their consent.The Client’s deliberate indication of a third party’s Public Key is irrelevant for the conclusion of the contract and the contracting parties. The user of the Services is the one who becomes a party to the contract. The existence of any prior legal relationship because of which the Client indicated the third party’s Address as the destination of the transfer is irrelevant from the Company’s perspective. Any exceptions or defences based on that legal relationship between the Client and the third-party beneficiary of the transfer are unenforceable against Chidori Technologies.

4. PRE-CONTRACTUAL TERMS AND CONDITIONS

To be able to conclude the currency exchange contract through the Chidori Technologies Website, the Client must meet certain pre-contractual requirements:
  • Hold their own Wallet and Address. The Client bears the consequences of any error related to indicating the Cryptocurrency transfer Address—where the Client wishes to purchase bitcoin—given that the factual transfer (delivery) of Cryptocurrency is irreversible. The Client bears the consequences of the loss of, or a third party gaining possession of, the Private Key associated with the Address indicated to the Company for effecting the transfer, irrespective of whether this event occurred before or after the contract was concluded.
  • The amount they wish to transact must not exceed—together with any amounts transacted during the same day—the Maximum Daily Transaction Value. Compliance with the maximum threshold will be checked by reference to the unique Address or the billing details of the Client with limited transaction value. Where the Client has transacted using a unique Address or multiple different Addresses, the Maximum Daily Transaction Value shall be deemed reached for the same identified person or the same billing details used.
  • The amount they wish to transact must not exceed the Maximum Value per Single Contract.
  • Present and allow photocopying of their valid identity document, where requested by the Company.

5. SUBJECT MATTER OF THE CONTRACT

The subject matter of any contract governed by these Terms of Use is the exchange between Cryptocurrency (Bitcoin) and Fiat Currency (LEI or EURO). The contract is in the nature of a sale of intangible movable goods (Bitcoin) for a price expressed in LEI or EURO.The Client may choose whether to purchase Cryptocurrency or Fiat Currency. Depending on this option, it will be determined which party is the seller (the party transferring the Cryptocurrency).Where the Client wishes to purchase Cryptocurrency, they may choose their preferred means of payment, in LEI or EURO.The exchange rate between Cryptocurrency and Fiat Currency is determined prior to the conclusion of the contract based on criteria independent of the parties and is permanently displayed on the Website.

6. CONCLUSION OF THE CONTRACT

Maintaining the Website in working order by the Company constitutes a firm offer to contract, addressed to the public, subject to and within the limits of the Company’s available holdings of Fiat Currency (LEU and EURO) and Cryptocurrency.6.1. CONTRACT UNDER WHICH CHIDORI TECHNOLOGIES (SELLER) TRANSFERS CRYPTOCURRENCY
In contracts where the Client seeks to purchase Cryptocurrency, Chidori Technologies’ offer is made subject to the cumulative fulfilment, in the order below, of the following requirements:
  • the Client indicates the Address to which the Cryptocurrency is to be transferred/made available;
  • the Client provides to the Company (transfers) the full amount (in LEI or EURO, as chosen by the Client) indicated on the Website and corresponding to the desired quantity of Cryptocurrency. Upon conclusion of the contract, the amount remains due as the Sale Price;
  • the Client communicates the data and documents required in accordance with these Terms of Use.
The contract by which the Client purchases Cryptocurrency is validly concluded only after the Client has paid/transferred the amount (Fiat Currency) representing the equivalent of the Cryptocurrency (Sale Price) together with the commission due for the transaction. Until this moment, the Client may reverse their initial option and is not legally bound merely by accessing the Website menu. 6.2. CONTRACT UNDER WHICH CHIDORI TECHNOLOGIES (BUYER) PURCHASES CRYPTOCURRENCY
In contracts where the Client seeks to sell Cryptocurrency, the Client’s firm intention to accept the offer is expressed by accessing the menu provided on the Website which specifies the essential elements of the contract—the quantity of Cryptocurrency to be sold by the Client, the amount (LEI or EURO) they will receive in exchange, and the Address to which the Cryptocurrency is to be made available.From the time the written acknowledgment is issued, the Client has 15 minutes to complete all steps necessary to perform the contractual obligation to remit the Cryptocurrency to the Address indicated. If this time period expires without those steps being completed—regardless of whether the reason is attributable to the Client—the contract is terminated by operation of law, and Chidori Technologies ceases to be bound by any contractual obligation towards the Client. Likewise, the contract is retroactively terminated if, despite the Client’s steps, the Cryptocurrency transfer is not subsequently confirmed on the blockchain.Chidori Technologies’ obligation to pay the amount expressed in Fiat Currency (LEI or EURO, at the Client’s choice) is subject to the suspensive condition of blockchain confirmation of the Cryptocurrency transfer made by the Client.

7. OBLIGATIONS OF THE PARTIES. PERFORMANCE OF THE CONTRACT.

The seller of Cryptocurrency must use best efforts to individualize the Cryptocurrency sold and to ensure it is made available to the buyer.​The obligation to make available to the buyer the quantity of Cryptocurrency purchased is deemed fulfilled only after confirmation of the transfer on the blockchain.The buyer of Cryptocurrency must pay the price, in LEI or EURO, as established at the time the contract is concluded. Payment of the price is made in cash or by card.The Client—regardless of whether they are the seller or the buyer—will additionally be liable to pay the commission owed to the Company, and, where applicable, the fixed transfer fee (only for the Client who is the seller of Cryptocurrency). In the case of a sale by the Client, the commission and the fixed transfer fee are paid by direct deduction from the price paid by the Company.Order of performance. The obligation of Chidori Technologies becomes due immediately after the Client’s obligations are performed. When the Client is the seller, the Company’s obligation to pay the price is subject to the suspensive condition of blockchain confirmation of the Cryptocurrency transfer made by the Client.

8. IMPOSSIBILITY OF PERFORMANCE. FORCE MAJEURE AND FORTUITOUS EVENT.

Contractual liability of either party is excluded when the damage is caused by the temporary or definitive impossibility of performing contractual obligations due to a force majeure event or a fortuitous event.If the force majeure or fortuitous event results in a definitive impossibility to perform any of the essential obligations assumed by the parties, the contract terminates by operation of law, with effects for the future.If, for reasons beyond Chidori Technologies’ control (such as, but not limited to, Website malfunctions, ATM power outages) the performance of the contract is temporarily prevented for more than 24 hours, the Client—buyer may unilaterally terminate the contract and request the prompt refund of the amount paid.If the impossibility is temporary (such as, but not limited to, Website malfunctions, ATM power outages, depletion of cash reserves or Cryptocurrency) and occurs after blockchain confirmation of the cryptocurrency transfer, the Client—seller may not terminate the contract. They may request in writing that the Company pay, as soon as possible, the amount owed, indicating the bank account into which they wish the amount to be transferred.Increased onerousness of either party’s obligations or the disappearance of the economic interest that motivated a party to conclude this contract does not result in its termination.

9. WARRANTIES

The seller of Bitcoin warrants their title to the quantity of Cryptocurrency that is the subject of the contract, as individualized by the source Address and/or the Public Key.The seller warrants to the buyer that the quantity of Cryptocurrency identical to that mentioned in the sale contract will be made available to the buyer.The seller does not warrant the maintenance of the value of the Cryptocurrency as expressed in the contractual price.The buyer is likewise fully aware that the value of Cryptocurrency is not guaranteed by any bank, national central bank, or supranational entity.Accordingly, the value of Cryptocurrency and the exchange rate are dictated solely by the interest of potential buyers.

10. RISKS

The Client is aware of and assumes the risk of potential value fluctuations and/or abrupt devaluation of Cryptocurrency.The Client is aware of potential risks (e.g., possible attempts to illicitly influence the trading price) associated with the uneven distribution of Cryptocurrency among original and current holders.The Client assumes the risk that in certain countries the use of Cryptocurrency may not be permitted.The Client is fully aware that Bitcoin or any other Cryptocurrency is not legal tender and that third parties are not legally obliged to accept Cryptocurrencies as a means of payment.The Client knows that the use of Cryptocurrency is conditioned on the simultaneous possession of both the Public Key and the Private Key associated with the Address where the Cryptocurrency is held.If the Private Key is lost, the holder of the Cryptocurrency cannot obtain its recovery from any third party and will be in a permanent impossibility to use the Cryptocurrency held.If the Private Key (together with the Public Key) is allowed to be misappropriated by a third party, the Cryptocurrency holder assumes the risk that the third party will dispose of the Cryptocurrency, without effective legal means to recover it from subsequent acquirers.The buyer is fully informed that indicating an incorrect Address for the factual transfer of the Cryptocurrency is at their sole risk. The obligation to make the Cryptocurrency available to the buyer is performed irreversibly: once transferred to a given existing and valid Address, the Cryptocurrency can be recovered only by a new transfer, subject to the consent of the holder of that Address.

11. DECLARATIONS

The Client declares that they are 18 years of age at the time of contracting.​

The Client declares that the Identity Document presented is authentic, valid, and belongs to them.

The Client declares that the billing data communicated to the Company are real, current, and belong to them.

The Client declares that they are entitled to dispose of the amount of money (LEI or EURO) paid in performance of the contract or, as the case may be, of the Cryptocurrency associated with the Address from which the transfer to Chidori Technologies is made. By entering into the contract, the Client confirms that the money or the Cryptocurrencies transacted belong to them or that they were mandated by their holder to conclude the contract in their own name.

The Client—buyer declares that the Address indicated as the destination of the transfer belongs to them or to a specified third party who will be the actual beneficiary of the transfer of rights over the Cryptocurrency.

The Client declares that the Address used to send or receive the Cryptocurrency is not a Suspicious Address.

12. TERMINATION OF THE CONTRACT

The invalidity or ineffectiveness of any clause of this contract does not affect the validity or effectiveness of the contract as a whole, except to the extent that it deprives it of legal basis for one or both parties.Given the irreversible nature of performing the obligation to deliver/make available the Cryptocurrency after blockchain confirmation, any restitution of the performance consisting of the transfer of Cryptocurrency may be made exclusively in equivalent (LEI or EURO) depending on the currency in which the price was paid. Therefore, in the event of nullity, termination, or any other cause for ending the contract, the buyer shall be entitled to the restitution of the price, and the seller to the restitution of the updated value (in the same currency) of the quantity of Cryptocurrency whose transfer was the subject of the terminated contract.Cases of contract termination:
  • the contract is terminated by operation of law and without notice if the Client—seller does not take steps to make the Cryptocurrency available to the Company within 15 minutes of the acknowledgment being communicated.​
  • the Client—buyer may unilaterally terminate the contract if, for reasons beyond Chidori Technologies’ control (such as, but not limited to, Website malfunctions, ATM power outages, depletion of cash reserves or Cryptocurrency), performance of the contract is temporarily prevented for more than 24 hours, the Client also being able to request the prompt refund of the amount paid;
  • the contract concluded by the Client as seller is terminated by operation of law if the factual transfer of the Cryptocurrency cannot be confirmed on the blockchain;
  • Chidori Technologies may, when acting as seller, refuse to transfer Cryptocurrency to a Suspicious Address. In this case, the contract is terminated by operation of law, with the immediate refund of the amount paid by the Client.
  • Chidori Technologies may, when acting as buyer, invoke termination by operation of law and without notice if it finds that the seller transferred the Cryptocurrency from a Suspicious Address. The buyer forfeits, as a penalty clause, the right to any restitution in equivalent.

13. APPLICABLE LAW AND DISPUTES

Any sale contract concluded between Chidori Technologies and the Client under these Terms of Use is governed by Romanian law as in force on the date of its conclusion.If amicable settlement of any disputes arising in connection with the contract concluded between Chidori Technologies and the Client is not possible, the courts with territorial jurisdiction to resolve them shall be those at the Company’s registered office.