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Terms of Use

ADVISORY

We strongly advise you to read the warning advisory on virtual currencies released by Bangko Sentral Ng Pilipinas prior to reading our terms and conditions and using Bexpress The advisory can be viewed here: /www.bsp.gov.ph/publications/media.asp?id=3377

1. WELCOME TO BEXPRESS INC

THANK YOU FOR YOUR INTEREST IN OUR PHILIPPINES PESO BASED BITCOIN TRADING SERVICES. BY USING OUR WEBSITE YOU AGREE TO THESE TERMS AND CONDITIONS.
Please read these terms and conditions carefully.

2. DEFINITIONS
  • 2.1 Bexpress (“We” or “Us” or “Our”)
    Refers to a company registered in the Republic of Philippines with the below details:
    Company Name: Bexpress Inc.
    Securities and Exchange Commission CompanyReg. No: CS 201617555
    Address:#5 G/F Aseana powerstation, Aseana Business Park, Paranaque, Metro Manila, Philippines
  • 2.2 Website
    The internet application(s) and content served at address /www.bexpress.ph and all sub domains.
  • 2.3 Bitcoin Bitcoin is a virtual currency. The definition of virtual currencies by Bangko Sentral Ng Pilipinas is as follows:
    “A virtual currency is a form of unregulated digital money, meaning it is not issued or guaranteed by a central bank. It allows purchase of both virtual goods (such as in online gaming environments and social network) and real goods and services (such as in retailers, restaurants and other establishments). Unlike electronic money, which is backed by cash for 100% of its stored value, virtual currencies are not backed by any commodity like cash, gold or silver. Rather, they are merely valued subjectively according to one’s ability to exchange them for goods.”
  • 2.4 Services
    The services offered via the Website or other channels including but not limited to:
    • o Exchanging Philippine Pesos with Bitcoin (Buying Bitcoin)
    • o Exchanging Bitcoin with Philippine Pesos (Selling Bitcoin)
    • o Transferring Bitcoin from your Bexpress account to a Bitcoin address you provide
    • o Crediting the Bitcoin amounts transferred to the unique Bitcoin deposit address provided to you in your Bexpress account
    • o Storing and safekeeping the funds in your Bexpress account.
2.5 User (“User” or“You” or “Yours”)

Person or persons using the Services via the Website.

3. CREATING A BEXPRESS ACCOUNT
  • 3.1 Registration
    In order to use the Services, you must first create a Bexpress account by providing your first name, last name, email address, password and confirming your acceptance of these Terms and Conditions.
  • 3.2 Account Verification
    Prior to using our services, you must go through our account verification procedure which requires you to submit a document for ID verification and another document for address verification. We accept the below for ID verification:
    • o Passport
    • o Driver’s License
    • o Professional Regulation Commission (PRC) ID
    • o National Bureau of Investigation (NBI)Clearance
    • o Police Clearance
    • o Postal ID
    • o Voter’s ID
    • o Barangay Certification
    • o Government Service Insurance System (GSIS)e-Card
    • o Social Security System (SSS) Card
    • o Senior Citizen Card
    • o Overseas Workers Welfare Administration(OWWA) ID
    • o OFW ID
    • o Seaman’s Book
    • o Alien Certification of Registration/Immigrant Certificate of Registration
    • o Government Office and GOCC ID, e.g. Armed forces of the Philippines (AFP ID), Home Development Mutual Fund (HDMF ID)
    • o Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
    • o Department of Social Welfare and Development (DSWD) Certification
    • o Integrated Bar of the Philippines ID
    • o Company IDs issued by private entities or institutions registered with or supervised with or regulated either by the BSP, SEC or IC. Acceptable proof of address documents: utility bill registered to your name clearly showing your address or an official government document showing your name and address. Proof of address documents cannot be older than 3 months.
4. BITCOIN DEPOSITS

Unique Bitcoin deposit address will be assigned to your account upon account creation. Any Bitcoin amount transferred to this address will be credited to your Bexpress account within a reasonable time after receiving at least three confirmations by Bitcoin miners on the Bitcoin network. You will be given the right to create a new unique Bitcoin deposit address after using your current Bitcoin deposit address at least once. Bexpress holds the rights to:
Temporarily or permanently increase the number of required confirmations from 3 to a larger number Reject and return a transaction output to its source input after deducting the miners fees without showing cause Reject the transaction and not credit the amount(s) to your account if required by law Introduce a new limit or change existing limits for Bitcoin deposits to your account without prior notice. Charge a fee for deposits. As a user of our services, you accept that a Bitcoin deposit may be delayed up to 72 hours or more and you agree not to hold us responsible for any losses, damages or injury arising out of or related to such delay. While transferring Bitcoin to Bexpress, users must:
Transfer Bitcoin to their Bitcoin deposit address in a manner in accordance with the Law of the Philippines and/or the applicable law in the jurisdiction where the transfer is sourced from. Ensure that the transfers to their Bitcoin deposit address includes enough miner fees for the transaction to be confirmed. Ensure that the transfers to their Bitcoin deposit address are not double spent or fraudulent.

5. PHILIPPINES PESO DEPOSITS

To be able to buy Bitcoin on Bexpress, you must first go through the account verification procedure and transfer Philippines Pesos (PHP) to your Bexpress account. While transferring PHP to Bexpress, users must:
Only transfer PHP from a bank account which belongs to the user. The name of the owner of the bank account must match the name on the Bexpress account. Add the transfer code displayed to you on the website per your deposit request as a message or a note to the bank transfer. Make transfers adhering to these terms and conditions AND regarding the limits, policies, warnings and instructions outlined on the Policies and Limits page and Deposit PHP page on the website. Bexpress holds the rights to:
Reject and return a bank transfer without showing cause Request additional documentation such as proof of address document before crediting the deposit to your Bexpress account

  • o Reject and return a bank transfer after deducting the transaction costs if the transfer does not adhere to these terms and conditions
  • o Forfeit a transfer if the sender cannot be reliably identified
  • o Introduce a new limit or change existing limits for PHP deposits to your account without prior notice
  • o Charge a fee for deposits.
  • o We will credit the amount you transfer to your Bexpress account within a reasonable time upon receipt. As a user of our services, you accept that a Philippines Peso deposit may be delayed up to 72hours or more and you agree not to hold us responsible for any losses, damages or injury arising out of or related to such delay.
6. BITCOIN WITHDRAWALS o As part of the services, you can send Bitcoin to a Bitcoin address using your Bexpress account. In order to initiate a Bitcoin Withdrawal, go to the Withdraw Bitcoin page on the website, enter the address you wish to send Bitcoin to and the amount of Bitcoin you want to send. We will automatically verify the validity of the Bitcoin address you entered but we cannot confirm that the address you entered belongs to the intended recipient.
  • o Bexpress processes Bitcoin transactions as per your instructions and cannot confirm the identity or owner of any Bitcoin wallet or address.
  • o Bitcoin transaction are irreversible and we cannot cancel a Bitcoin transaction once initiated. Please make sure your instructions are correct before submitting a Bitcoin withdrawal request.
  • o Bexpress securely holds 100% of its users’ Bitcoin balances in a mix of online and offline storage with majority of funds in the offline storage. As a result, we might need to access our offline storage to process your withdrawal. Please note that this process might take up to 72 hours or more. o As a user of our services, you accept that a Bitcoin withdrawal may be delayed and you agree not to hold us responsible for any losses, damages or injury arising out of or related to such delay.
  • o Bexpress holds the rights to:
  • o Refuse to process a Bitcoin Withdrawal if required to do so by law
  • o Charge a fee for withdrawals.
7. PHILIPPINES PESO WITHDRAWALS
  • o You can transfer the Philippines Peso funds in your Bexpress account to your bank account. To initiate a PHP Withdrawal, go to the related page, enter your bank account information.
  • o You understand and accept that you can only withdraw Philippines Pesos to a bank account registered in your name. The name of the owner of the bank account you want to withdraw your PHP funds to must be the same with the name in your Bexpress account.
  • o We may charge a withdrawal fee to cover the operational or transactional costs.
  • o You accept that a Philippines Peso withdrawal may be delayed up to 72 hours or more and you agree not to hold us responsible for any losses, damages or injury arising out of or related to such delay.
8. TRADING
  • 8.1Limit Orders
    A limit order is an order to buy or sell a Bitcoin at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute. A limit order can only be filled if the Bitcoin’s market price reaches the limit price.
  • 8.2Market Orders
    A market order is an order to buy or sell Bitcoin at the best available price(s). This type of order will be executed immediately. The price at which a market order will be executed is not guaranteed. A market order can be executed in multiple pieces at different prices until the amount of Bitcoin you specified with the order is sold for sell orders or until the total amount you specified in Philippines Pesos is spent for buy orders. The last-traded price or the “real time” quote on our Website is not necessarily the price at which the order will be executed.
  • 8.3 Price of Bitcoin
    The market price of Bitcoin is independently determined on Bitcoin exchanges such as Bexpress. Bitcoin does not have a central bank or a central exchange which has authority over the price.
    The Bitcoin price displayed on our website is the top sell order in our order book. The top bid price is always different from the top ask price and thus your sell orders are not executed at the price displayed on the website.
  • 8.4 Available Funds
    The amounts specified in orders are not available for withdrawal until either the order is either cancelled or executed.
  • 8.5 Trading Fees
    Bexpress charges you a fee for each trade on the website. Both the buyer and the seller are charged a fee per trade. The fee schedule we apply is published on the fees page and changes to our fee schedule is announced in the announcements page our website.
10. TAXES

You are solely responsible for determining whether, and to what extent any taxes apply to Bitcoin or Philippines Peso transactions to or from your Bexpress account and Bitcoin or Philippines Peso funds you hold in your Bexpress account. It is also your sole responsibility to transfer the correct amounts for taxes to the appropriate tax authorities.

11. CUSTOMER SUPPORT

As a user of our services, you can receive customer support using Email or Live Chat channels. When you contact us, please provide us with your name, email address and/or any other information to help us identify and resolve your issue faster.

12. PRIVACY POLICY

We are committed to the complete privacy of our users. To the extent permitted by the Law of the Philippines, and unless we are required by law or ordered by a court of the Law of the Philippines:

  • o The personal information you share with Bexpress including name, address, phone number, banking information is kept confidential by Bexpress and its partners.
  • o The documents we request from you for the purposes of Account Verification are encrypted and safely stored and are never used for any other purpose other than ID and address verification and the security of your account.
  • o Access to your personal information by Bexpress and its partners is strictly controlled and only given to authorized and vetted personnel.
  • o Your information is never shared with a third party for marketing purposes.
13. GENERAL TERMS AND CONDITIONS
  • 13.1 Limited Liability
    You agree that under no circumstances shall Bexpress, its business partners, affiliates, service providers or any of the irrespective officers, directors, agents, employees, joint ventures or representatives be liable for lost profits or any special, incidental or consequential damages or losses arising out of or in connection with Bexpress, its Website or Services or these terms and conditions however arising, including negligence to maximum extent as permitted by the Law of the Philippines.
  • 13.2 No Warranty
    To the extent permitted by the Law of the Philippines, our services and website are provided ‘as is’ without any warranty (whether express, implied statutory or otherwise) of any kind. We make no representation or warranties that any part of our Website and Services or any feature of our Website and Services including all types of order execution, price quotes, order book quotes, deposits, withdrawals, account operations will be accessible without interruption, free of errors or secure. Bexpress does not control the Bitcoin market and we make no representation or warranties for the current or future value of Bitcoin either on Bexpress denominated in Philippines Pesos or in any other currency on other venues of Bitcoin trading. You understand and agree that the market value of Bitcoin is highly volatile and you agree to not hold Bexpress responsible for any losses or damages arising from buying, selling, holding or investing in Bitcoin even if our website and services are unavailable or interrupted for any reason. We make no representation or warranties that the graphical or numerical data or information displayed or published on the Website will be accurate, real time, complete, useful or truthful. You understand and agree to not rely on such graphical or numerical data or information and you agree to not hold Bexpress responsible for any losses or damages arising from delayed, incomplete, not useful or untruthful graphical or numerical data or information displayed or published on the Website.
  • 13.3 Force Majeure
    We shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforce ability of any remaining provisions.
  • 13.4 Section Headings
    Section headings in this Terms and Conditions document are for convenience only, and shall not govern the meaning or interpretation of any provision of its clauses.
  • 13.5 Governing Law
    These terms and conditions and all matters arising from them and any dispute resolutions shall be governed by the Law of the Philippines.
  • 13.6 Language
    These terms and conditions are made only in the English language. If there is any conflict in the meaning between the English language version of these Terms and Conditions and any version or translation of them in any other language, the English language version shall prevail.

Privacy Policy

Privacy Policy What information do we collect?

We collect information from you when you register on our site or fill out a form.
When ordering or registering on our site, as appropriate, you may be asked to enter your e-mail address. You may, however, visit our site anonymously.

What do we use your information for?
  • Any of the information we collect from you may be used in one of the following ways:
    • • To personalize your experience (your information helps us to better respond to yourindividual needs)
    • • To improve our website (we continually strive to improve our website offerings based on the information and feedback we receive from you)
    • • To improve customer service (your information helps us to more effectively respond to your customer service requests and support needs)
    • • To process transactions
      Your information, whether public or private, will not be sold, exchanged, transferred, or given to any other company for any reason whatsoever, without your consent, other than for the express purpose of delivering the purchased product or service requested.
    • • To administer a contest, promotion, survey or other site feature
    • • To send periodic emails
  • The email address you provide for order processing, may be used to send you information and updates pertaining to your order, in addition to receiving occasional company news, updates, related product or service information, etc. Note: If at any time you would like to unsubscribe from receiving future emails, we include detailed unsubscribe instructions at the bottom of each email.
How do we protect your information?

We implement a variety of security measures to maintain the safety of your personal information when you enter, submit, or access your personal information.
We offer the use of a secure server. All supplied sensitive/credit information is transmitted via Secure Socket Layer (SSL) technology and then encrypted into our Payment gateway providers database only to be accessible by those authorized with special access rights to such systems, and are required to keep the information confidential. After a transaction, your private information (credit cards, social security numbers, financials, etc.) will not be kept on file for more than 60 days.

Do we use cookies?

Yes (Cookies are small files that a site or its service provider transfers to your computer’s hard drive through your Web browser (if you allow) that enables the sites or service providers systems to recognize your browser and capture and remember certain information We use cookies to understand and save your preferences for future visits.

Do we disclose any information to outside parties?

We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe release is appropriate to comply with the law, enforce our site policies, or protect ours or others rights, property, or safety. However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses.