BUY XAUR
General Terms and Conditions

Introductory provisions and definition of terms

Article 1

Services and deliver comprise all services and deliveries offered and sold by the provider AURESCO Institute under this or any other brand or service mark and are defined, described and available via the web-site http://xaurum.org/ (hereinafter referred to as: Services).

The provider of services and goods is AURESCO, zavod za naložbeno dejavnost z uporabo internetne in kripto tehnologije, Bled, with its information as follows:
– registered office and business address; Triglavska cesta 43, 4260 Bled, Slovenia;;
- registration number: 6747604000;
- tax ID number: 52124517;
- contact e-mail address: [email protected];
(hereinafter referred to as: Provider).

A buyer is a legal or natural person who has signed an agreement with the provider on the web-site xaurum.org or in any other way (hereinafter referred to as: Buyer).

The Buyer is obligated to complete and sign the agreement and submit all required documents. These General Terms and Conditions apply in addition to the agreement and form its integral part.

A service user is any legal or natural person who uses the services or visits or uses the web-site xaurum.org, notwithstanding whether or not he has ordered the use of services with the provider (hereinafter referred to as: User).

The purpose of the Provider, for which it was established, is to sell a virtual currency Xaurum (XAUR), invest in gold as per the price list, provide storage of gold and exchange the virtual currency for its current gold basis, whereby the primary task of the Provider is to manage gold reserves for Xaurums for buyers according to the ratio determined by the market and the Provider, and to maintain and develop the cryptocurrency network.

The Buyer may "donate" the gold represented by its Xaurums to the common good through destruction of its own respective Xaurums carried out by the Provider.

The Provider provides the production of new Xaurums (minting and mining) online in exchange for Xaurums at their specific value according to the price list.

The Provider's Articles of Association defines in more detail the purpose of its operation.


Validity, adoption and use of General Terms and Conditions

Article 2

The provisions of these General Terms and Conditions define the conditions of the method of ordering, rights of access, prices and rights and obligations applicable to all Provider's services and deliveries, for which the Buyer submits an order. According to the specificity of each individual service, in addition to these General Terms and Conditions, Special Terms and Conditions may also apply (a separate document not constituting an integral part of the General Terms and Conditions), which are presented to the client upon ordering an individual service to which these Special Terms and Conditions apply. These Special Terms and Conditions are binding for the Buyer and constitute an integral part of the agreement between the Provider and the Buyer.

The General Terms and Conditions also apply to users using the services on the basis of the agreement or other relationship with a third party who is not the Provider and has signed an agreement with the Provider, on the basis of which the Provider confers the right on the respective third party to grant the right to its clients to use the services. By accepting these General Terms and Conditions or using the services, there is no contractual relationship established between the Provider and these users. Nevertheless, the users are obligated to follow the provisions of these General Terms and Conditions. In the case of any discrepancies between the provisions of these General Terms and Conditions and the agreement concluded between the third party and the user, the provisions of these General Terms and Conditions shall apply.

The Buyer is notified of and agrees with the fact that in terms of specific services and deliveries it is, in addition to these General Terms and Conditions, also bound by the General Terms and Conditions or contractual provisions of third parties. By using the services, the Buyer confirms that it fully accepts the provisions of the General Terms and Conditions or contractual provisions of third parties. Upon submitting the order, i.e. prior to the use of service, the Buyer notes the use of General Terms and Conditions or contractual provisions. In the foregoing cases, the Provider is in no case responsible for the actions of third parties in their relationship to the Buyer or User.

The provisions of these General Terms and Conditions apply to all buyers, notwithstanding whether they are legal or natural persons.

By using the Provider's services or visiting or using the website http://xaurum.org/, the Buyer (or User) confirms that it is fully acquainted with the contents of these General Terms and Conditions, that it has been fully and clearly notified of the provisions of these General Terms and Conditions and that it accepts them in full.

The provisions of these General Terms and Conditions are an integral part of the contractual relationship related to the use of services between the Buyer and the Provider, and apply directly.

The price list of the Provider's services is an integral part of these General Terms and Conditions and is available on the website http://xaurum.org/ (hereinafter referred to as: price list). By accepting the General Terms and Conditions, the Buyer confirms that it is fully acquainted with the price list. The prices of services are calculated as per the price list applicable on the day of the performed service or delivery.


Article 3

The Provider reserves the right to change any of the provisions of these General Terms and Conditions and/or price list at any time and without prior notice. The need to change the provision occurs with the amendments of the legislation, a change of technical conditions, etc., whereby the pricing on the basis of the predetermined formula for services is not deemed as a change to the price list. However, the change of the pricing formula is deemed as a change to the price list.

The Buyer is obligated to publish the change to any provision of these General Terms and Conditions and/or the price list on its public portals. Since the Provider does not and cannot monitor current Xaurum ownership structure, it is hereby recommended to all current owners of Xaurums to follow any potential changes in the General Terms and Conditions. As per the first paragraph of Article 43.č of the Consumer Protection Act, the Provider shall not provide a remote withdrawal from the agreement.

If the Buyer or owner of Xaurums does not agree with a change to the General Terms and Conditions, it may sell its Xaurums in the market or exchange them for gold as per the currently applicable price list.

A change of these General Terms and Conditions is binding on the Buyer if it continues to use the website and/or services or, if it does not withdraw from the contractual relationship with the Provider within 15 days of the receipt of notification. In this case it is deemed that the change binds the Buyer as of the day of the receipt of notification via e-mail.


Prices, charging of services, deadline and methods of payment

Article 4

The price of services and deliveries is formed on a daily basis as per the formula for an individual submitted order published in the price list. The price is not fixed, but it constantly changes, particularly in relation to the factors of market conditions, whereas the formula itself is unchangeable regarding the currently applicable formula published in the price list and thus provides the specific method to calculate the price. All submitted orders are calculated in the virtual currency – Xaurum (XAUR).

All prices published on the website http://xaurum.org/, are expressed in Xaurums (XAUR), if not otherwise specified in an individual price or service.

The price of one Xaurum (XAUR) is expressed in US dollars (USD) excluding value added tax (VAT).


Article 5

The payment for services and deliveries is calculated with regard to an individual ordered service or delivery from the relationship between the Buyer and the Provider. The order is verified first, and then the acceptance of the order and the verification are sent to the Buyer. The Buyer performs the transfer in the currency and states the amount of cash in dollars to be exchanged for virtual currency Xaurum (XAUR). By confirming/verifying the order, the Provider prepares the mint for the Buyer and notifies it about an approximate price or how much money the Buyer shall receive in the virtual currency, the value of which is constantly fluctuating and cannot be fixed, and is thus calculated using the formula published in the price list.

The Buyer pays a desired amount in the currency that is currently accepted by the Provider, and after the purchase of Xaurums, the Provider transfers to the Buyer its Xaurums to the submitted public cryptographic key as per the procedure described in the first paragraph of this Article.

The Buyer explicitly and unconditionally confirms its responsibility for suitable information before the execution or ordering of any services or deliveries with the Provider. The Buyer also explicitly and unconditionally states that it is aware of the extreme and high risk of this purchase business, thereby explicitly and unconditionally disclaiming any claims against the Provider, since it is responsible for the risk when buying as well as for its decisions and consequences thereof.


Article 6

To carry out the order, the Provider is transferred the means for which it performed the transfer on the basis of the order.

The Buyer agrees that the Provider may issue an invoice for the submitted order only in an electronic form and send it via e-mail to the e-mail address verified by the Provider or by means of electronic communication, except when the Buyer and the Provider explicitly agree otherwise.

The Buyer performs remittance transfers to buy virtual currency Xaurum via the bank account stated in the agreement or order. If the Provider suspects that the bank operation is not transparent or in case of any other suspicion of the Provider related to the bank, the Provider has the right to refuse the execution of the Buyer's order.


Article 7

All costs of shipment or delivery of ordered services/deliveries are charged in full to the Buyer and are defined in more detail in the price list.


Signing, duration and termination of the contractual relationship or the agreement

Article 8

The procedure of ordering a service or delivery, or signing the contractual relationship:

Prior to ordering a service, the Buyer must register on the portal, whereby stating:
- his information, namely: name and surname/name of the company, address, registration number, tax ID number or ID number, date of birth, Personal Identification Number or registration number, number of a valid personal identification document, date of issue of the said personal identification document, validity end-date of the said personal identification document, citizenship, occupation or position in the case of legal person,
- information on the responsible person for the Buyer, if the Buyer is a legal person, and the contact person (all the stated personal information in the case of a legal person is given by the responsible person for the legal person).


MELT

The Buyer fills in the online form for the submission of the melt order, in which it states its personal data and by which it submits the demand. Then, the Provider sends the Buyer to its e-mail account or to its order on the portal the informative offer regarding the price that was fixed at the moment of submitting the demand of the Buyer. Within 24 hours of the receipt of the offer, the Buyer must confirm the offer, namely by sending the Provider an e-mail with the confirmation of the previously submitted information on the form and confirming the order. At the same time it carries out the transfer of Xaurums according to the accepted offer. If the Buyer fails to carry out the transfer of Xaurums in the above-stated time, the Provider has the right to withdraw from the execution of the offer.

By confirming the submitted order, the Provider obtains the right to execute the order, by which the ordered service or delivery is executed.

The contractual relationship may be concluded in the Slovenian or English language with the Buyer with its registered office or place of residence in the Member States of the European Union and other countries of the world, except for those countries determined by the Provider or the official authority. For example, but not exclusively, the Provider does not perform business with countries such as: Iran, Democratic People's Republic of Korea, Algeria and Myanmar (Burma).


Article 9

The Provider is not responsible for any loss or accuracy of the information of the Buyer from its order. The Buyer is responsible to protect and state the correct data in its order. Particularly, the Provider informs buyers that at the potential loss of the foregoing data, the Provider cannot resend or re-acquire it and that the Buyer bears all costs of potential loss or access denial to the investment or Xaurums.


Deadlines to implement services and deliveries

Article 10

Among the offered services and deliveries, the Buyer chooses the one that suits it best. For each offered service and delivery there is a description available, including the time period of the provision of the performance of service or delivery.

In the case of force majeure, the deadlines to perform the service are extended for the duration of force majeure, provided that the Provider notifies the Buyer on the occurrence of force majeure as soon as possible.

If the cooperation of the Buyer is necessary or useful to start the performance, continue or conclude the service by the Provider (e.g. communication of data, submission of key information for the performance, etc.) and the Buyer exceeds the agreed deadline or fails to provide immediate reply upon the invitation of the Provider, the Provider is entitled to extend all foreseen deadlines for the implementation for the period required for the proper implementation of the order.

If there is an extension of the implementation deadline referred to in the third paragraph of this Article and the Buyer fails to fulfil its cooperative obligations also within this extended period, the Provider may at his own discretion insist on the contractual relationship or withdraw from it without a notice period.


Copyrights and other intellectual property rights

Article 11

By signing and implementing the contractual relationship with the Provider, the Buyer does not obtain any copyrights or other rights related to the computer programs (applications, modules, etc.) used for the provision of services and deliveries as per or related to these General Terms and Condition, notwithstanding whether the Provider or a third party is the holder of rights on these computer programs.

The Provider is entitled to mark its authorship or copyright or other rights any time, including his logo or a link to its web site. The Provider may at any time change the method of marking the authorship or material copyright. The Provider must not execute its right in a way that would disproportionally interfere with the right of the Buyer.

Without any explicit preliminary written consent of the Provider or an agreement between the Provider and the Buyer, the Buyer is prohibited to interfere with the copyright works referred to in the previous paragraphs of this Article, to process or tamper them or transfer the right on these works to third parties.

Without the explicit preliminary written consent of the Provider or the agreement between the Provider and the Buyer, the Buyer has no right to access the source code of the copyright computer programs of the Provider that are a part of services between the contracting parties or which support or ensure their operation. The Buyer also has no right to interfere, process or tamper with the source code of the Provider, or transfer it or provide access to the source code of the Provider to third parties with an exception of source codes the Provider determined as open-source solution.

Any attempt to breach or damage the Provider's information system is a criminal offence and the Provider reports it to the supervisory authorities and initiates suitable legal proceedings.

It is prohibited to save copyright protected documents (files) and programs to the electronic equipment of the Provider, for which the Buyer has not obtained suitable rights or the explicit consent of the Provider.


User support and communication

Article 12

The buyers are provided with technical support via e-mail, namely by contacting the Provider or on the telephone number +38640632700 on work days that are work days in the Republic of Slovenia, namely between 10:00 and 14:00 CET.


Rights and obligations of the Provider, restrictions for buyers

Article 13

The Buyer (or User) is notified about and accepts the fact that the operation of some Provider's services largely depends on the general status and operation of telecommunication networks and on the access options of the Buyer and on access conditions of these networks. With the care and diligence of an expert, the Provider shall strive to provide uninterrupted and smooth operation of services, but shall not provide any warranties or guarantees thereof.


Article 14

The Buyer undertakes not to transfer or install any harmful content on the Provider's equipment, including:
• malware scripts and data containing such scripts or programs (viruses, Trojan horse, etc.);
• scripts or content that mislead users (phishing sites) or are in any other way contrary to the applicable legislation;
• pornographic or violent content, documents including hate, offensive or otherwise prohibited speech or content;
• content for which the client has not suitable copyrights or other rights.

The Provider can demand that the Buyer remove the content or in any other way temporarily or permanently limit or prevent access to them if they may be controversial or harmful to the Provider or contrary to these General Terms and Conditions.

The Provider has the right to exclude from use the scripts and applications that overload its equipment, present a security threat or reduce the stability of operation of its equipment. Recurring elimination may lead to a temporary termination of rights to implement scripts or applications, and even to a temporary or permanent shut-down of services and termination of the contractual relationship.

In the case of obviously intentional or recurring (more than twice) unintentional violation of the provisions of this Article, the Buyer (or User) is obligated to pay a contractual penalty in the amount of 10,000.00 EUR for each individual violation, notwithstanding the existence and the amount of the damage caused. If the actual damage caused exceeds the amount of the contractual penalty, the Buyer is obligated to cover the difference to the full compensation in addition to the amount of the contractual penalty.


Exclusion and limitation of liability of the Provider and the liability of the Buyer

Article 15

In no case is the Provider responsible for damage incurred to the Buyer in using the Provider's services or in relation thereof, if the damage is a direct or indirect consequence of:
• the action of the Buyer or a person, for who the Buyer is responsible or who acts on the Buyer's authorisation (which may also stem from the nature of relationship between the respective person and the Buyer, e.g. the responsible person of the Buyer) or in the Buyer's interest;
• actions of third parties, including the persons who on their own or together with the Provider provide the operation of an individual service or a part of service or deliveries;
• force majeure; events that the Provider could not foresee upon concluding the contractual relationship and which or the consequences of which cannot be avoided are deemed as force majeure; for example, but not exclusively, force majeure includes floods, wars, extraordinary events, demonstrations, instances of civil disobedience, measures of national or local authorities, fire, earthquake, strikes, interruptions to production processes, traffic jams and other cases recognised by case law in the Republic of Slovenia. The Buyer explicitly agrees that a long disconnection or disturbances of power supply, unforeseen hardware or software faults, failures in telecommunication network or its access disturbances, technical problems of suppliers of products and services required and used by the provider are also deemed as force majeure; the foregoing events are deemed force majeure even if they stem from the domain of the Provider.

In no case is the Provider responsible for indirect damage and for loss of profit.

In no case is the Provider is responsible for loss, damage or change to the Buyer's content saved on the Provider's equipment.

In no case is the Provider responsible for damage caused to the Buyer by virus infections or other malware codes or due to breach of the computer or information system.

The Buyer itself is responsible for preparing and saving backups of its data that are located on the Provider's server, unless the agreement between the Buyer and the Provider explicitly states otherwise.

A Buyer who causes damage to the Provider or third parties by using the service, is obligated to reimburse it under the general rules of indemnification. The transfer of data required to claim compensation to the injured party or to its authorised person, court or other competent authority by the Provider is not deemed a violation of Buyer's business secrets.


Rights and obligations of the Buyer

Article 16

If there is a change in data the Buyer stated upon its registration or upon ordering the services or deliveries, the Buyer is obligated to notify the Provider in writing of the change of data within 8 days of the change occurring. In addition to the notification sent to the Provider, the Buyer is obligated to change the data in services offered by the Provider where possible. The Buyer suffers all potential negative consequences of abandoning the notification on the change of data, as well as if the deadline referred to in the previous sentence has not yet expired.


Article 17

The Buyer is responsible for itself and for its responsible persons for the confidentiality, protection and use of access passwords, user names and other data to access the services. The Buyer is responsible for the content of services it offers and with which it uses the Provider's equipment.

The Buyer is responsible for actions of its responsible persons as if they were his own.


Protection of data and business secrets

Article 18

The Provider and the Buyer are obligated to protect all data on the other contracting party which they obtain through or in relation with their cooperation as a business secret, namely during their cooperation and for at least three (3) years after the termination of the validity of the contractual relationship.

The information, which is as per the first paragraph of this Article deemed a business secret, must not be used by the contracting parties on their own or with others for purposes beyond the contractual relationship, and must not be submitted to third parties or enable third parties to be acquainted with it. The prohibition of the submission information to third parties does not apply to the Provider where and to the extent it is necessary to provide services as per the concluded subscription relationship.

In no case, may the Buyer or the User make a press statement, except with the prior written consent of the Provider,

the exception being the data demanded by the official authorities.


Informing the Buyers and the purpose of data processing

Article 19

The Buyer, who has subscribed to receive e-news of the Provider or other electronic messages of the Provider or third parties, agrees that the Provider or a third party may send it e-mail notifications related to the operation of services and delivery and their capacities, upgrades referring to the services, changes or amendments to these General Terms and Conditions, campaigns or benefits in using the services and deliveries, as well as other service-related messages. The Buyer agrees that these notifications may also include commercial messages (ads) from the Provider or third parties.

The Buyer, who has subscribed to receive e-news of the Provider or other electronic messages of the Provider or third parties, agrees that the Provider sends it these news and other electronic messages to its e-mail address entered upon registration, and to keep and process the data on the Buyer in a way determined in this Article.

The Buyer is understands and agrees that in terms of sent e-mail notifications the Provider may record the data on the Buyers who read a specific e-mail message and the data on the online links in the respective message the Buyers opened (clicked). The Buyer agrees that the Provider may use the data thus obtained to adjust offers and/or contents of future e-mail notifications sent to a specific Buyer.

The Buyer agrees that the Provider may use all the data gathered within the scope of implementing the services and deliveries for the Buyer for its own needs without limitations, including market analyses and adjustment of products and services to the findings of analyses.

The Buyer explicitly allows the Provider to send information, notifications and survey questionnaires directly or indirectly related to the Provider's services to the Buyer's e-mail address during the contractual relationship until the cancellation or opting-out of receiving this kind of notifications.


Protection of personal data

Article 20

The Buyer agrees that for the purposes of its operation the Provider gathers and processes the personal data of its contact persons who communicate with the Provider in regard to services and deliveries.

The contracting parties undertake to protect the personal data of employees and contractual workers of other contracting party or related data as per the Personal Data Protection Act (ZVOP-1).

In the case of the Buyer being deemed as an administrator of personal data (i.e. a person who on his own or with others determines the purposes and means of the processing of personal data), the Buyer must provide the protection of personal data as per the European and Slovenian legislation (including the Personal Data Protection Act, ZVOP-1). Procedures, measures and conditions to provide the protection of personal data and prevention of its unauthorised processing are defined in more detail in the Rules or the Internal Act on the protection of personal data applicable with the Buyer.


Insurance of personal data

Article 21

(1) The Provider states that the established procedure to implement services as per these General Terms and Conditions and measures to protect personal data are integral parts of the Rules to protect personal data of the AURESCO Institute related to the first paragraph of Article 25 of ZVOP-1. The Rules referred to in the first sentence of this paragraph define the protection of personal data within the scope of legal, organisational and suitable logical and technical procedures and measures by which the Provider protects personal data, prevents accidental or intentional unauthorised destruction of this data, its change or loss and unauthorised processing of this data by ensuring:
• the protection of premises, device and system software,
• the protection of applicative software used for processing personal data,
• the provision of secure submission and transfer of personal data,
• the prevention of unauthorised persons to access the devices used to process personal data and their databases,
• the provision of subsequent determination about the time when individual personal data was used or entered in the data collection and by whom, i.e. for the period in which individual data is stored.


Final provisions

Article 22

Where these General Terms and Conditions require a written form and is not explicitly stated otherwise, registered mail is required sent to the address of the other contracting party stated by the Buyer upon registration or the contracting party subsequently submitted to other contracting party as per the provisions of these General Terms and Conditions. In all other cases, an e-mail message suffices as a valid channel of communication between the contracting parties. This e-mail message must be sent to the e-mail address stated upon registration or to the e-mail address the contracting party submitted to other contracting party as per the provisions of these General Terms and Conditions and is verified by the Provider.

The message is deemed received upon its receipt by the other contracting party. The message is deemed received even if the other contracting party does not receive it and the sending party can prove that the message was sent as per the first paragraph of the Article, namely:
- if the Buyer has its head office or place of residence in the Republic of Slovenia, the message is deemed received on the second day after the sending date;
- if the Buyer has its head office or place of residence in any other country, the message is deemed received on the third day after the sending date;

In the case of large orders exceeding the monthly value of 10,000 EUR, upon the call of the Provider the Buyer is obligated to disclose the data on its property and its origin, and in addition to that it guarantees to the Provider that its property does not originate and is in no way related to money laundering, money hiding, tax evasion, terrorism, crime, illicit trade in weapons, drugs, trafficking or other offences and that it fully complies with the legislation in the field of money laundering and terrorism financing prevention.

The relationship between the Provider and the Buyer is subject to the law of the Republic of Slovenia, without the use of rules on private international law and procedure. Disputes between the contracting parties are settled by the competent court according to the Provider's registered office.

Definition of the most frequent terms:
Melt is the exchange of Xaurum for its gold determined as a basis of its value.
Mint is the production of new Xaurums where a person intends a certain value in money to produce new Xaurums as per the Xaurum equation.
Burn is a verified destruction of Xaurums where they are subtracted from Xaurums traded.
Blockchain is a transparent public ledger of all transactions.


These General Terms and Conditions are applicable from 1 June 2016.