Last Updated: April 10, 2025
This Agreement is between you, the client (Client, Broker, you, your) and PayBitoPro (we, our, us, developer), which is the owner and operator of an online platform for the provision of brokerage services in cryptocurrencies (the Platform) which can be accessed at www.paybito.com (the Website) or via our Android/iOS mobile Apps or desktop application.
Collectively referred to as the “Parties” and individually as a “Party”.
1. Purpose
HC NET provides blockchain infrastructure services including sidechain creation and asset deployment. The Customer wishes to create a digital asset ("Sidechain Asset") on a sidechain linked to HC NET in accordance with the terms of this Agreement.
2. Definitions
- Sidechain Asset: A cryptographic token or digital asset deployed by the Customer on a sidechain linked to HC NET.
- Sidechain: A blockchain environment that is interoperable with HC NET and allows the creation and operation of digital assets under controlled parameters.
- Platform: The HC NET main blockchain and its associated infrastructure.
3. Scope of Services
HC NET agrees to:
- Provide the infrastructure necessary for the creation and deployment of the Sidechain Asset.
- Offer technical support during the initial deployment and testing phase.
- Enable interoperability with the main HC NET blockchain, as applicable.
4. Customer Responsibilities
The Customer shall:
- Provide accurate and complete specifications for the asset.
- Remain solely responsible for legal compliance, including but not limited to securities laws, KYC/AML obligations, and tax regulations related to the Sidechain Asset.
- Refrain from deploying or promoting assets used for illicit purposes.
5. Fees and Payment
- The Customer agrees to pay HC NET a fee of 5 HCX for the creation and deployment of the Sidechain Asset. HCX purchase price shall be at the prevailing market rate at the time of purchase by the customer.
- Additional fees may apply for extended support, upgrades, or interoperability features, subject to a separate agreement or addendum.
6. Intellectual Property
- The Customer retains ownership of the name, brand, and design of the Sidechain Asset.
- HC NET retains all rights, title, and interest in its blockchain infrastructure and platform tools.
- Nothing in this Agreement shall transfer ownership of intellectual property from one Party to the other.
7. Warranties and Disclaimers
- HC NET makes no warranties regarding the commercial success or legal classification of the Sidechain Asset.
- The Platform is provided "as is", and HC NET disclaims all warranties, express or implied, including merchantability or fitness for a particular purpose.
- The Customer acknowledges that blockchain systems are inherently experimental and may be subject to downtime or other performance issues.
8. Limitation of Liability
In no event shall HC NET be liable for any indirect, incidental, special, or consequential damages, or for any loss of profits or revenue, arising out of or related to this Agreement.
9. Term and Termination
- This Agreement shall commence on the Effective Date and remain in effect until terminated by either Party upon 30 days’ written notice.
- HC NET may terminate immediately for breach or for use of the Sidechain Asset in violation of applicable law.
10. Governing Law and Dispute Resolution
If a dispute arises from or relates to this Agreement or the breach thereof, and if the dispute cannot be settled through direct discussions, the parties agree to endeavor first to settle the dispute by mediation administered by the American Arbitration Association under its Commercial Mediation Procedures before resorting to arbitration. The parties further agree that any unresolved controversy or claim arising out of or relating to this Agreement, or breach thereof, shall be settled by arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.
11. Miscellaneous
- This Agreement constitutes the entire understanding between the Parties.
- Any amendments must be in writing and signed by both Parties.
- Neither Party may assign its rights or obligations without prior written consent.
