*Subtotal prices in the above-mentioned table are exclusive of total amount due and payable (excludes commission to mandates and Escrow fee at plus five (5%) percent of undiscounted price).
2. Buyer agrees to purchase Bitcoin at 88% of the market value of Bitcoin per Tranche and plus 5% Commission of the undiscounted price to the Bitcoin Escrow Service company, the total purchase price of, $7,951,500.
3. Bitcoin, (BTC), is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator developed by Satoshi Nakamoto. http://www.bitcoin.org.
4. A Bitcoin address is an endpoint for receiving payment; with alphanumeric codes of up to 34 digit. Bitcoins are delivered by assigning them to a Bitcoin address using the Bitcoin software program or functional equivalent. The fact that a transfer of Bitcoins has taken place can be validated through a software utility known as a Bitcoin “block explorer” such as the one available at http://www.blockexplorer.com.
5. BUYER Bitcoin address to receive the BITCOIN from the SELLER MUST be filled out in the Escrow Agreement, and same as provided in BTC Address field above.
EXECUTION OF THE CONTRACT
6. This contract shall be deemed executed by SELLER when properly signed, sealed and all endorsed documents delivered to BUYER via electronic mail. The SELLER does not accept face-to-face transactions with cash payments.
WARRANTIES & LIABILITY
7. Risk of Delivery. Seller is not responsible to any person for risk of failure of electronic delivery of Bitcoin.
(Seller strives to reduce risk or exposure of our BTC address or code to hackers therefore, we WILL NOT send Satochi or expose private/public keys to Buyer).
8. Risk of Loss. Buyer bears the risk of loss of the Bitcoin at the moment Seller or Seller’s agent transfers the Bitcoin available to the Buyer.
9. BUYER warrants that he/she is the rightful owner of the funds being remitted, and hereby indemnifies SELLER against any losses, liability or penalty incurred as a result of this transaction or BUYER's funds having been illegally acquired.
REMEDIES FOR NON-TIMELY PAYMENT
10. In the event that BUYER fails to initiate or complete the wire transfer payment to Bitcoin Escrow Company account within five working days of Closing or Escrow advising their account information; the SELLER will either adjust the quantity of Bitcoins to be delivered to reflect current rate (both Parties will agree on current BTC rates to execute transaction due to rate fluctuations) or this contract shall be null and void.
11. BUYER shall not be responsible for wire delays cause solely by the banking system. In the event of an anticipated delay. BUYER shall promptly inform SELLER of the pertinent transaction details made via the Bitcoin Escrow Company, including the reference number of the wire transfer or payment confirmation slip.
12. SELLER shall not be responsible for any reasonable delays incurred by the banking system beyond SELLER’s
control or via the Bitcoin Escrow Company.
13. Informal Resolution. If either Buyer or Seller has any concerns regarding a breach or default under this Agreement, the complaining party must first notify the other and allow the other party at least ten working days to remedy the claimed breach or default.
14. Binding Arbitration. Any dispute arising out of or relating to this contract, or the breach thereof, shall be finally resolved by arbitration administered by the British Chamber of Commerce, England, under its Commercial Arbitration Rules, and judgement upon the award rendered by the arbitrators may be entered in any court having jurisdiction. The arbitration will be conducted in the English language in the city of London, England, in accordance with the Laws of England Arbitration Act. There shall be three arbitrators, named in accordance with such rules.
15. Attorneys Fees & Judgement Rates. If, after reasonable attempts to obtain a party’s performance under this Agreement, a party resorts to legal or arbitration proceedings and that party prevails, then the non-prevailing party shall pay the prevailing party’s reasonable attorneys fees, costs, and expenses. If any judgement or award for money is made in the prevailing party’s favour, the judgement or award will bear pre-judgement and post-judgement interest at the Discounted rate specified in this Agreement.
16. Any unauthorized communication or probing for information to any of the involved banks in this transaction by any party or its respective representatives, affiliates, or attorneys is strictly prohibited. a breach of this rule will lead to the immediate termination of this contract.
CONFIDENTIALITY, RESTRICTIVE COMMUNICATION & NON-CIRCUMVENTION AND NON-DISCLOSURE
17. Both Parties undertake that they will not at any time divulge or communicate to any person, except to their professional advisors or as may be required by law, any confidential information concerning the contents of this agreement.
18. Non-circumvention & non-disclosure provisions per standard international business sales practice shall be deemed to be incorporated and formed an integral part of this agreement.
19. The BUYER hereby confirms and declares that the SELLER, its associates or representatives or any person or persons on its behalf has/have never ever solicited the BUYER, its shareholders or associates or representatives in any way whatsoever that can be construed as a solicitation for this transaction or for future transactions.
Buyer and Seller have mutually agreed to the terms of this Bitcoin Purchase Agreement and have indicated their respective agreement to these terms by signing below, with the understanding that no modifications of this agreement will be effective unless it is in writing and is signed by both Parties. This agreement binds and benefits both Parties and any successors.