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Last Revised : January 31, 2018

ACCEPTANCE OF TERMS OF USE

Please Read These Terms of Use Carefully Before You Start to Use the Universal Exchange Services Limited Owned Website Located at shipowner.io (Collectively, "Shipowner.io", "We", or "Us") and Any Services Made Available Through Shipowner.io. By Using Shipowner.io, or by Clicking the “sign Up” or “notify Me” Button, or by Using the Services, You Accept and Agree to Be Bound and Abide by These Terms of Use. if You Do Not Want to Agree to These Terms of Use, You Must Not Access or Use Shipowner.io

Shipowner.io provides you with a simple and convenient way to access, purchase and exchange digital tokens. These Terms of Use and any terms expressly incorporated herein ("Terms") apply to your access to and use of Shipowner.io and mobile applications provided by Shipowner.io, and the purchase and account services Shipowner.io as described in these Terms (collectively, our "Services").

Shipowner.io reserves the right to change or modify the terms and conditions contained in these Terms, including but not limited to any policy or guideline of the Shipowner.io, at any time and at its sole discretion. We will provide notice of these changes by posting the revised Terms to the Shipowner.io and changing the "Last Revised" date at the top of the Terms, or by emailing users at their provided email addresses, or by any other means as determined by Shipowner.io. The decision of which notification chosen will be left to Shipowner.io's sole discretion. Using a particular form of notice in some instances does not obligate us to use the same form in other instances. Any changes or modifications will be effective immediately upon posting the revisions to the Shipowner.io or at the instant that Shipowner.io transmits the information to the users (e.g. via email). These changes will apply at that instant to all then current and subsequent uses of the Shipowner.io. You waive any right you may have to receive specific notice of such changes or modifications. Your continued use of this Shipowner.io acts as acceptance of such changes or modifications. If you do not agree to the Terms in effect when you access or use the Shipowner.io, you must stop using the Shipowner.io with immediate effect.

ACCESSING THE WEBSITE

You must meet certain eligibility criteria to use Shipowner.io. By accessing or using Shipowner.io, you represent and warrant that: (a) you are at least 18 years; (b) have not previously been suspended or removed from using our Services; (c) have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party; (d) not located in, under the control of, or a national or resident of any country to which the United Nations, United States or Europe has embargoed goods or services; (e) not identified as a "Specially Designated National" or a “Politically Exposed Person”; (f) not placed on the US Commerce Department's Denied Persons List; and (g) will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms. Please read our KYC & AML Policy (found here) and fully understand how it applies to you, your residence country and/or your nationality. Finally, you represent and warrant that you will not be using this site for any illegal activity, including but not limited to money laundering and the financing of terrorism.

REGISTRATION OF ACCOUNT(S)

In order to access and use the Services, you must create an account with Shipowner.io (an “Account”). You agree to: (a) provide accurate, current and complete information when creating the account; (b) maintain and promptly update your Account information to keep it accurate, complete, and current; (c) maintain the security and confidentiality of your login credentials and restrict access to your Account and your computer; (d) promptly notify Shipowner.io if you discover or otherwise suspect any security breaches related to Shipowner.io; and (e) take responsibility for all activities that occur under your Account and accept all risks of unauthorized access.

ACCOUNT(S) SECURITY

We reserve the right to withdraw or amend Shipowner.io, and any Service or material we provide on Shipowner.io, in our sole discretion without notice. We will not be liable if for any reason all or any part of Shipowner.io is unavailable at any time or for any period. From time to time, we may restrict access to users to some parts of Shipowner.io, to certain Accounts or the whole of Shipowner.io, including registered users.

You are responsible for:

  • Making all arrangements necessary for you to have access to Shipowner.io.
  • Ensuring that all persons who access Shipowner.io through your internet connection are aware of these Terms and comply with them.
  • Maintaining and promptly update your Account information.
  • Maintaining the security of your Account by protecting your password and restricting access to your Account.
  • All activities that occur under your Account and you accept all risks of any authorized or unauthorized access to your Account, to the maximum extent permitted by law.

If you choose, or are provided with, a user name, password, or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any other person or entity. You also acknowledge that your account is personal to you and agree not to provide any other person with access to Shipowner.io or portions of it using your user name, password, or other security information. You agree to notify us immediately of any unauthorized access to or use of your user name or password or any other breach of security. You also agree to ensure that you exit from your account at the end of each session. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information.

We have the right to disable any user name, password, or other identifier, whether chosen by you or provided by us, at any time in our sole discretion for any or no reason, including if, in our opinion, you have violated any provision of these Terms. Shipowner.io may, in its sole discretion, limit the number of Accounts that you may hold, maintain or acquire.

ACCEPTABLE USE CONDITIONS

When accessing or using the Services, you agree that you will not violate any law, contract, intellectual property or other third-party right or commit a tort, and that you are solely responsible for your conduct while using our Services. Without limiting the generality of the foregoing, you agree that you will not:

  • Use our Services in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying our Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner;
  • Use our Services to pay for, support or otherwise engage in any illegal gambling activities, fraud, money-laundering, or terrorist activities, or other illegal activities;
  • Use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access our Services or to extract data;
  • Use or attempt to use another user's account without authorization;
  • Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;
  • Develop any third-party applications that interact with our Services without our prior written consent;
  • Provide false, inaccurate, or misleading information;
  • Encourage or induce any third party to engage in any of the activities prohibited under this Section.

In order to access and use the Services and retain any information you wish to relating to the Services, you will need a computer with an internet connection that has a current web browser with cookies enabled and 128-bit encryption. You will also need to have a valid email address on file with Shipowner.io and have sufficient storage space or a printer to print emails if you wish to retain them.

DIGITAL TOKEN PURCHASES

This Section applies to: (a) all digital token purchases completed via the Services, and (b) any transaction in which you load fiat or digital currencies ("Funds") at Shipowner.io’s direction to complete a purchase of digital tokens. We may, at any time and in our sole discretion, refuse any purchase of digital tokens submitted via the Services, impose limits on the purchase amount permitted via the Services or impose any other conditions or restrictions upon your use of the Services without prior notice. If you have sent an insufficient amount of Funds at Shipowner.io’s direction to complete a purchase of digital tokens via the Services, we may cancel the entire order or may fulfill a partial order using the amount of Funds currently available. It is your responsibility to determine what, if any, taxes apply to the purchases you complete via the Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that Shipowner.io is not responsible for determining whether taxes apply to your purchases of digital tokens or for collecting, reporting, withholding or remitting any taxes arising from any purchases of digital tokens.

TRANSFER OF FUNDS

In order to complete a purchase of a digital token the Services, you must send Funds to the relevant account or wallet identified by Shipowner.io using one of the approved external accounts identified via the Services. You may be required to verify that you control the external account that you use to send Funds. You may be charged fees by the external account you use to send Funds. Shipowner.io is not responsible for any external account fees or for the management and security of any external account. You are solely responsible for your use of any external account, and you agree to comply with all terms and conditions applicable to any external account. The timing associated with a transfer of Funds for a purchase will depend in part upon the performance of third parties responsible for maintaining the applicable external account, and Shipowner.io makes no guarantee regarding the amount of time it may take to load Funds into your Account.

USE OF SERVICE TO PURCHASE

This Section applies only when you use the Services to purchase digital tokens. Shipowner.io does not purchase, sell, or exchange any digital tokens on its own behalf. You acknowledge and agree that: (a) Shipowner.io is not acting as your broker, intermediary, agent, or advisor or in any fiduciary capacity, and (b) no communication or information provided to you by Shipowner.io shall be considered or construed as advice. Once the Services execute your purchase, a confirmation will be electronically made available via the Services detailing the particulars of the purchase of digital tokens. You acknowledge and agree that the failure of the Services to provide such confirmation shall not prejudice or invalidate the terms of such purchase of digital token.

ELECTRONIC NOTICES

You agree and consent to receive electronically all communications, agreements, documents, receipts, notices and disclosures (collectively, "Communications") that Shipowner.io provides in connection with your Account and/or use of the Shipowner.io Services. You agree that Shipowner.io may provide these Communications to you by posting them via the Services, by emailing them to you at the email address you provide, and/or by sending an SMS or text message to a mobile phone number that you provide. Your carrier's normal, messaging, data and other rates and fees may apply to any mobile Communications. You should maintain copies of electronic Communications by printing a paper copy or saving an electronic copy. You may also contact us through support email info@Shipowner.io to request additional electronic copies of Communications or, for a fee, paper copies of Communications (as described below).

You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to support email info@Shipowner.io. If you decline or withdraw consent to receive electronic Communications, Shipowner.io may suspend or terminate your use of the Services.

It is your responsibility to keep your email address and/or mobile phone number on file with Shipowner.io up to date so that Shipowner.io can communicate with you electronically. You understand and agree that if Shipowner.io sends you an electronic Communication but you do not receive it because your email address or mobile phone number on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, Shipowner.io will be deemed to have provided the Communication to you. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add Shipowner.io to your email address book so that you will be able to receive the Communications we send to you. You can update your email address, mobile phone number or street address at any time by logging into your Account or by sending such information to support email info@Shipowner.io. If your email address or mobile phone number becomes invalid such that electronic Communications sent to you by Shipowner.io are returned, Shipowner.io may deem your account to be inactive, and you may not be able to complete any transaction via our Services until we receive a valid, working email address or mobile phone number from you.

THIRD PARTY CONTENT

In using our Services, you will view content provided by third parties, including articles, reviews, comments, insights, analysis and links to web pages of such parties, including but not limited to blogs, forums, communities and social networks. We do not control or approve any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of Third-Party Content, and your interactions with third parties that are linked to our Service, is at your own risk.

DISCLAIMER OF WARRANTIES

OUR SERVICES ARE PROVIDED “AS IS” WITH NO WARRANTY OF ANY KIND. Your use of our Services is at your sole risk. We and our licensors, service providers or subcontractors (if any) make no representations or warranties about the suitability of the information, software, products and services contained in our Services for any purpose or their compliance with any accounting rules, principles or laws, and expressly disclaim any representation or warranty that the Services will be free from errors, viruses or other harmful components, that communications to or from the Services will be secure and not intercepted, that the services and other capabilities offered from the Services will be uninterrupted, or that their content will be accurate, complete or timely.

WE DISCLAIM ALL WARRANTIES AND CONDITIONS, EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY, AND FITNESS FOR A PARTICULAR PURPOSE. YOU ACKNOWLEDGE THAT YOU HAVE NOT ENTERED INTO THIS AGREEMENT IN RELIANCE UPON ANY WARRANTY OR REPRESENTATION EXCEPT THOSE SPECIFICALLY SET FORTH IN THESE TERMS.

YOU ACKNOWLEDGE THAT INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES MAY BECOME IRRETRIEVABLY LOST OR CORRUPTED OR TEMPORARILY UNAVAILABLE DUE TO A VARIETY OF CAUSES, INCLUDING SOFTWARE FAILURES, PROTOCOL CHANGES BY THIRD PARTY PROVIDERS, INTERNET OUTAGES, FORCE MAJEURE EVENT OR OTHER DISASTERS INCLUDING THIRD PARTY DDOS ATTACKS, SCHEDULED OR UNSCHEDULED MAINTENANCE, OR OTHER CAUSES EITHER WITHIN OR OUTSIDE OUR CONTROL. YOU ARE SOLELY RESPONSIBLE FOR BACKING UP AND MAINTAINING DUPLICATE COPIES OF ANY INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES.

You understand that we cannot and do not guarantee or warrant that files available for downloading from the internet or the Website will be free of viruses or other destructive code. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for anti-virus protection and accuracy of data input and output, and for maintaining a means external to our site for any reconstruction of any lost data.

TO THE FULLEST EXTENT PROVIDED BY LAW, WE WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY A DISTRIBUTED DENIAL-OF-SERVICE ATTACK, VIRUSES, OR OTHER TECHNOLOGICALLY HARMFUL MATERIAL THAT MAY INFECT YOUR COMPUTER EQUIPMENT, COMPUTER PROGRAMS, DATA, OR OTHER PROPRIETARY MATERIAL DUE TO YOUR USE OF THE WEBSITE OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE OR TO YOUR DOWNLOADING OF ANY MATERIAL POSTED ON IT, OR ON ANY WEBSITE LINKED TO IT.

YOUR USE OF THE WEBSITE, ITS CONTENT, AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE IS AT YOUR OWN RISK. THE WEBSITE, ITS CONTENT, AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. NEITHER THE COMPANY NOR ANY PERSON ASSOCIATED WITH THE COMPANY MAKES ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY, OR AVAILABILITY OF THE WEBSITE. WITHOUT LIMITING THE FOREGOING, NEITHER THE COMPANY NOR ANYONE ASSOCIATED WITH THE COMPANY REPRESENTS OR WARRANTS THAT THE WEBSITE, ITS CONTENT, OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE WILL BE ACCURATE, RELIABLE, ERROR-FREE, OR UNINTERRUPTED, THAT DEFECTS WILL BE CORRECTED, THAT OUR SITE OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR THAT THE WEBSITE OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE WILL OTHERWISE MEET YOUR NEEDS OR EXPECTATIONS.

TO THE FULLEST EXTENT PROVIDED BY LAW, THE COMPANY HEREBY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, AND FITNESS FOR PARTICULAR PURPOSE.

THE FOREGOING DOES NOT AFFECT ANY WARRANTIES THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLELAW.

LIMITATION OF LIABILITY

IN NO EVENT SHALL OUR COMPANY, OUR DIRECTORS, MEMBERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE OUR SERVICES OR THE SHIPOWNER.IO MATERIALS, ANY WEBSITES LINKED TO IT, ANY CONTENT ON THE WEBSITE OR SUCH OTHER WEBSITES, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM SHIPOWNER.IO AND ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, AND WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT, OR OTHERWISE, EVEN IF FORESEEABLE, OR ANY OTHER LOSS THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO SHIPOWNER.IO'S RECORDS, PROGRAMS OR SERVICES.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF SHIPOWNER.IO (INCLUDING OUR DIRECTORS, MEMBERS, EMPLOYEES AND AGENTS), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, SHIPOWNER.IO OR TO THESE TERMS EXCEED THE FEES EARNED BY SHIPOWNER.IO DURING THE 12 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY DIVIDED BY THE NUMBER OF USERS DURING THAT 12 MONTH PERIOD.

THE FOREGOING DOES NOT AFFECT ANY LIABILITY THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.

NO OFFER

Neither these Terms nor any other document or information publicly available on Shipowner.io without going through your Account and the purchase process, constitute an offer or solicitation to sell securities. None of the information or analyses presented are intended to form the basis for any investment decision, and no specific recommendations are intended. Accordingly, these Terms do not constitute investment advice or counsel or solicitation for investment in any security and shall not be construed in that way. These Terms do not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities. Shipowner.io expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in this document, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.

NO ADVICE

Shipowner.io is not acting as an advisor, including as to any financial, legal, investment, insurance and/or tax matters. Any information provided by Shipowner.io is for general information only. You are solely responsible for determining whether any contemplated transaction is appropriate for you.

The information presented on or through the Shipowner.io is made available solely for general information purposes. We do not warrant the accuracy, completeness, or usefulness of this information. Any reliance you place on such information is strictly at your own risk. We disclaim all liability and responsibility arising from any reliance placed on such materials by you or any other visitor to the Shipowner.io, or by anyone who may be informed of any of its contents.

This Shipowner.io may include content provided by third parties, including materials provided by other users, bloggers, and third-party licensors, syndicators, aggregators, and/or reporting services. All statements and/or opinions expressed in these materials, and all articles and responses to questions and other content, other than the content provided by the Company, are solely the opinions and the responsibility of the person or entity providing those materials. These materials do not necessarily reflect the opinion of the Company. We are not responsible, or liable to you or any third party, for the content or accuracy of any materials provided by any third parties.

INDEMNITY

You agree to defend, indemnify and hold harmless Shipowner.io (and each of our officers, directors, members, employees, agents and affiliates) from any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out or relating to (a) your use of, or conduct in connection with, our Services; (b) any Feedback you provide; (c) your violation of these Terms; or (d) your violation of any rights of any other person or entity. If you are obligated to indemnify us, we will have the right, in our sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it.

DISCONTINUANCE OF SERVICE

We may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services.

UNCLAIMED PROPERTY

If for any reason Shipowner.io is holding digital tokens in your Account on your behalf, and Shipowner.io is unable to return your digital tokens to your designated external account after a period of inactivity, then Shipowner.io may report and remit such digital tokens in accordance with applicable unclaimed property laws.

FEEDBACK

We will own exclusive rights, including all intellectual property rights, to any feedback, suggestions, ideas or other information or materials regarding Shipowner.io or our Services that you provide, whether by email, posting through our Services or otherwise ("Feedback"). Any Feedback you submit is non-confidential and shall become the sole property of Shipowner.io. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You waive any rights you may have to the Feedback (including any copyrights or moral rights). Do not send us Feedback if you expect to be paid or want to continue to own or claim rights in them; your idea might be great, but we may have already had the same or a similar idea and we do not want disputes. We also have the right to disclose your identity to any third party who is claiming that any content posted by you constitutes a violation of their intellectual property rights, or of their right to privacy. We have the right to remove any posting you make on our Shipowner.io if, in our opinion, your post does not comply with the content standards set out in this section.

INTELLECTUAL PROPERTY RIGHTS

Unless otherwise indicated by us, all copyright and other intellectual property rights in all content and other materials contained on Shipowner.io or provided in connection with the Services, including, without limitation, Shipowner.io and its entire contents, features, and functionality (including but not limited to all information, software, designs, text, graphics, pictures, information, data, video sound files, other files and the selection and arrangement thereof (collectively, "Shipowner.io Materials")) are the proprietary property of Shipowner.io or our licensors, clients or suppliers and are protected by international copyright laws, trademark, patent, trade secret, and other intellectual property or proprietary rights laws.

These Terms permit you to use the Shipowner.io for your personal, non-commercial use only. You must not reproduce, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store, or transmit any of the Shipowner.io Materials, except as follows:

  • Your computer may temporarily store copies of such materials in RAM incidental to your accessing and viewing those materials.
  • You may store files that are automatically cached by your Web browser for display enhancement purposes.
  • You may print one copy of a reasonable number of pages of the Shipowner.io for your own personal, non-commercial use and not for further reproduction, publication, or distribution.
  • If we provide desktop, mobile, or other applications for download, you may download a single copy to your computer or mobile device solely for your own personal, non-commercial use, provided you agree to be bound by our end user license agreement for such applications.
  • If we provide social media features with certain content, you may take such actions as are enabled by such features.

You must not:

  • Modify copies of any of the Shipowner.io Materials
  • Delete or alter any copyright, trademark, or other proprietary rights notices from copies of materials from this site.
  • You must not access or use for any commercial purposes any part of the Shipowner.io Materials or any Services.

If you print, copy, modify, download, or otherwise use or provide any other person with access to any part of the Shipowner.io Materials in breach of the Terms, your right to use the Shipowner.io will stop immediately and you must, at our option, return or destroy any copies of the materials you have made. No right, title, or interest in or to the Shipowner.io or any content on the Shipowner.io is transferred to you, and all rights not expressly granted are reserved by the Company. Any use of the Shipowner.io not expressly permitted by these Terms is a breach of these Terms and may violate copyright, trademark, and other laws.

TRADEMARKS

"Shipowner.io", the Shipowner.io logo and any other Shipowner.io product or service names, logos or slogans that may appear on our Services are trademark and may not be copied, imitated or used, in whole or in part, without our prior written permission. You may not use any trademark, product or service name of Shipowner.io without our prior written permission, including without limitation any metatags or other "hidden text" utilizing any trademark, product or service name of Shipowner.io. In addition, the look and feel of our Services, including all page headers, custom graphics, button icons and scripts, is the service mark, trademark and/or trade dress of Shipowner.io and may not be copied, imitated or used, in whole or in part, without our prior written permission. All other trademarks, registered trademarks, product names and company names or logos mentioned through our Services are the property of their respective owners. Reference to any products, services, processes or other information, by name, trademark, manufacturer, supplier or otherwise does not constitute or imply endorsement, sponsorship or recommendation by us.

SUSPENSION AND/OR TERMINATION

In the event of any Force Majeure Event (as defined in "Miscellaneous" Section), breach of this agreement, or any other event that would make provision of the Services commercially unreasonable for Shipowner.io, we may, in our discretion and without liability to you, with or without prior notice, suspend your access to all or a portion of our Services. We may terminate your access to the Services in our sole discretion, immediately and without prior notice, and delete or deactivate your Account and all related information and files in such account without liability to you, including, for instance, in the event that you breach any term of these Terms. In the event of termination, Shipowner.io will attempt to return any Funds stored in your Account not otherwise owed to Shipowner.io, unless Shipowner.io believes you have committed fraud, negligence or other misconduct.

APPLICABLE LAW & ARBITRATION

You and Shipowner.io agree to arbitrate any dispute arising from these Terms or your use of the Services, except for disputes in which either party seeks equitable and other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. Arbitration prevents you from suing in court or from having a jury trial. You and Shipowner.io agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Shipowner.io shall be sent to info@Shipowner.io. You and Shipowner.io further agree:
(a) to attempt informal resolution prior to any demand for arbitration;
(b) that any arbitration will occur in the exclusive jurisdiction of the Republic of Vanuatu;
(c) that arbitration will be conducted confidentially by a single arbitrator in accordance with the rules of arbitration in the exclusive jurisdiction of the Republic of Vanuatu;
(d) that the court in Republic of Vanuatu have exclusive jurisdiction over any appeals of an arbitration award and over any suit between the parties not subject to arbitration. Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Any dispute between the parties will be governed by these Terms and the laws of the Republic of Vanuatu, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction. Whether the dispute is heard in arbitration or in court, you agree not to commence a class action, class arbitration or representative action or proceeding against Shipowner.io.

MISCELLANEOUS

Entire Agreement; Order of Precedence. These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Services. These Terms do not alter the terms or conditions of any other electronic or written agreement you may have with Shipowner.io for the Services or for any other Shipowner.io product or service or otherwise. In the event of any conflict between these Terms and any other agreement you may have with Shipowner.io, the terms of that other agreement will control only if these Terms are specifically identified and declared to be overridden by such other agreement.

Amendment. We reserve the right to make changes or modifications to these Terms from time to time, in our sole discretion. If we make changes to these Terms, we will provide you with notice of such changes, such as by sending an email, providing notice on the homepage of the Shipowner.io and/or by posting the amended Terms via the applicable Shipowner.io website and mobile applications and updating the "Last Updated" date at the top of these Terms. The amended Terms will be deemed effective immediately upon posting for any new users of the Services. In all other cases, the amended Terms will become effective for pre-existing users upon the earlier of either: (i) the date users click or press a button to accept such changes, or (ii) continued use of our Services 30 days after Shipowner.io provides notice of such changes. Any amended Terms will apply prospectively to use of the Services after such changes become effective. If you do not agree to any amended Terms, you must discontinue using our Services and contact us to terminate your account.

Waiver. Our failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver thereof.

Severability. The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect.

Force Majeure Events. Shipowner.io shall not be liable for (1) any inaccuracy, error, delay in, or omission of (i) any information, or (ii) the transmission or delivery of information; (2) any loss or damage arising from any event beyond Shipowner.io's reasonable control, including but not limited to flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction or any other cause beyond Shipowner.io's reasonable control (each, a "Force Majeure Event").

Assignment. You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from Shipowner.io, including by operation of law or in connection with any change of control. Shipowner.io may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.

Headings. Headings of sections are for convenience only and shall not be used to limit or construe such sections.

Survival. Sections "Accessing the Website", “Registration and Accounts”, “Account Security”, “No Offer”, “No Advice, “Unclaimed Property”, “Feedback”, “Intellectual Property Rights”, “Trademarks”, “Privacy Policy”, “Third-Party Content”, “Disclaimer of Warranties”, “Limitation of Liability”; “Indemnity”, “Suspension and/or Termination”, “Applicable Law & Arbitration”, “KYC & AML”, “Risks Disclaimer” and this Section “Miscellaneous” shall survive any termination or expiration of these Terms.

Last Revised : January 31, 2018

PRIVACY POLICY

Universal Exchange Services Limited, a licensed company registered under the laws of Vanuatu and Universal Shipowner Limited, an exempted company registered under the laws of The Cayman Islands (“We”) are committed to protecting and respecting your privacy.

This policy (together with our terms of use available at https://shipowner.io/ (“Website”) and any other documents referred to on it sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by us. Please read the following carefully to understand our views and practices regarding your personal data and how we will treat it. By visiting the Website you are accepting and consenting to the practices described in this policy.

INFORMATION WE COLLECT FROM YOU

We will collect and process the following data about you:

Information you give us. This is information about you that you give us by filling in forms on the Website or by corresponding with us by phone, e-mail or otherwise. The information you give us may include your name, address, e-mail address and phone number, financial and credit card information, personal descriptionand photograph.

Information we collect about you. With regard to each of your visits to our site we will automatically collect the following information:

Technical information, including the Internet protocol (IP) address used to connect your computer to the Internet, your login information, browser type and version, time zone setting, browser plug-in types and versions, operating system and platform;

Information about your visit, including the full Uniform Resource Locators (URL), clickstream to, through and from our site (including date and time), products you viewed or searched for, page response times, download errors, length of visits to certain pages, page interaction information (such as scrolling, clicks, and mouse-overs), methods used to browse away from the page, and any phone number used to call our customer service number.

Information we receive from other sources. We are working closely with third parties (including, for example, business partners, sub-contractors in technical, payment and delivery services, advertising networks, analytics providers, search information providers, credit reference agencies) who may provide us information about you.

COOKIES

Our website uses cookies to distinguish you from other users of our website. This helps us to provide you with a good experience when you browse our website and also allows us to improve our site.

USES MADE OF THE INFORMATION

We use information held about you in the following ways:

Information you give to us. We will use this information:

  • to carry out our obligations arising from any contracts entered into between you and us and to provide you with the information, products and services that you request from us;
  • to comply with applicable laws and legislation;
  • to provide you with information about other goods and services we offer that are similar to those that you have already purchased or enquired about;
  • to notify you about changes to our service;
  • to ensure that content from our site is presented in the most effective manner for you and for your computer.

Information we collect about you. We will use this information:

  • to administer our site and for internal operations, including troubleshooting, data analysis, testing, research, statistical and survey purposes;
  • to comply with applicable laws and legislation;
  • to improve our site to ensure that content is presented in the most effective manner for you and for your computer;
  • to allow you to participate in interactive features of our service, when you choose to do so;
  • as part of our efforts to keep our site safe and secure;
  • to measure or understand the effectiveness of advertising we serve to you and others, and to deliver relevant advertising to you;>
  • to make suggestions and recommendations to you and other users of our site about goods or services that may interest you or them.

Information we receive from other sources. We will combine this information with information you give to us and information we collect about you. We will use this information and the combined information for the purposes set out above (depending on the types of information we receive).

DISCLOSURE OF YOUR INFORMATION

You agree that we have the right to share your personal information with:

Any member of our group, which means respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors, and assigns (“Team”).

Selected third parties including business partners, suppliers, and sub-contractors for the performance of any contract we enter into with them or you;

We will disclose your personal information to third parties:

In the event that we sell or buy any business or assets, in which case we will disclose your personal data to the prospective seller or buyer of such business or assets.

If We, our Team or substantially all of its assets are acquired by a third party, in which case personal data held by it about its customers will be one of the transferred assets.

If we are under a duty to disclose or share your personal data in order to comply with any legal obligation, or in order to enforce or apply our terms of use of the Website and other agreements; or to protect the rights, property, or safety of the Team, our customers, or others. This includes exchanging information with other companies and organizations for the purposes of fraud protection and credit risk reduction.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our site; any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features to try to prevent un-authorized access.

YOUR RIGHTS

You have the right to ask us not to process your personal data for marketing purposes. You can also exercise the right at any time by contacting us here.

Our site may, from time to time, contain links to and from the websites of our partner networks, advertisers and affiliates. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page. Please check back frequently to see any updates or changes to our privacy policy.

CONTACT

Questions, comments and requests regarding this privacy policy are welcomed and should be addressed here.

Last Revised : January 31, 2018

Know Your Customer (KYC) & Anti-Money Laundering (AML)

Policy and Procedures

It is the policy of Universal Exchange Services Limited (the “Company”) to prohibit and actively prevent Money laundering and any activity that facilitates money laundering or the funding of terrorist or criminal activities by complying with all applicable requirements of Vanuatu Financial Services Commission (“VFSC”) and its implementing regulations.

Money laundering is generally defined as engaging in acts designed to conceal or disguise the true origins of criminally derived proceeds so that the proceeds appear to have derived from legitimate origins or constitute legitimate assets. Generally, money laundering occurs in three stages. Cash first enters the financial system at the "placement" stage, where the cash generated from criminal activities is converted into monetary instruments, such as money orders or traveler's checks, or deposited into accounts at financial institutions. At the "layering" stage, the funds are transferred or moved into other accounts or other financial institutions to further separate the money from its criminal origin. At the "integration" stage, the funds are reintroduced into the economy and used to purchase legitimate assets or to fund other criminal activities or legitimate businesses.

Terrorist financing may not involve the proceeds of criminal conduct, but rather an attempt to conceal either the origin of the funds or their intended use, which could be for criminal purposes. Legitimate sources of funds are a key difference between terrorist financiers and traditional criminal organizations. In addition to charitable donations, legitimate sources include foreign government sponsors, business ownership and personal employment. Although the motivation differs between traditional money launderers and terrorist financiers, the actual methods used to fund terrorist operations can be the same as or similar to methods used by other criminals to launder funds. Funding for terrorist attacks does not always require large sums of money and the associated transactions may not be complex.

Our AML policies, procedures and internal controls are designed to ensure compliance with all applicable VFSC regulations and rules and will be reviewed and updated on a regular basis to ensure appropriate policies, procedures and internal controls are in place to account for both changes in regulations and changes in our business.

The Company operates so that it is compliant with ‘anti -money laundering’ (“AML”) and ‘know your customer’ (“KYC”) rules and regulations in the jurisdictions it operates in or sells products or services to and has developed this KYC and AML Policy to protect itself from involvement in money laundering or suspicious activity as follows:

  • Performing an enterprise-wide risk assessment to determine the risk profile of the Company
  • Establishing AML policies and procedures
  • Implementing internal controls throughout its operations that are designed to mitigate risks of money laundering
  • Performing know your customer (“KYC”) procedures on all users
  • Designating a Compliance Officer with full responsibility for the AML Program
  • Conducting an annual AML audit
  • Providing AML training to all employees

I. POLICIES AND PROCEDURES

All policies will be approved by the Company’s Board. A Policy once approved will be provided to all employees. Each employee will acknowledge the Policy in writing. All policies and procedures will be reviewed and updated or revised as needed, but no less often than annually or as required by VFSC.

II. TRAINING

All of the officers and employees of the Company are required to receive AML training at least annually. New employees will receive appropriate AML training within 30 days of their hire date. Training for all employees will include not only the legal elements of AML laws and regulations but will also cover job specific applications of these laws. Ongoing training will be provided and updated regularly to reflect current developments and changes to laws and regulations.

III.INTERNAL CONTROLS

Internal controls are in place at the Company for the purpose of ensuring that all of its operations comply with all AML legal requirements and that all required reports are made on a timely basis. Some of those internal controls are listed within this document and include, but are not limited to, the Participant Identification Program, the Flagged Activity Reporting system, and the required reports on the Program’s effectiveness to the Board.

IV. CUSTOMER IDENTIFICATION

It is the Company’s policy to ensure that it has reasonably identified each customer who uses the Company’s platform. Users may be identified using a variety of methods.

V. ACCOUNT OPENING PROCEDURES

Additionally, the Company will, as part of its account-opening process: (i) cross-check the names of users against compliance databases such as the OFAC Specially Designated Nationals list and other governmental watch lists; (ii) require users to provide proof of identification; (iii) not permit any payment above 500 U.S. Dollars value to be made with incomplete account-opening information; and (iv) not permit any token holders to redeem/use their tokens on the platform with incomplete account-opening information.

VI. PROOF OF IDENTIFICATION

Individuals (For corporate entities, the Company collects all the points mentioned below for a director of the entity)

  1. Name
  2. Date and place of birth
  3. Residence address and mailing address if different (PO Boxes are not acceptable unless accompanied by a valid mailing address)
  4. Official issued identification number (e.g., passport number, social security number, employee identification number or individual taxpayer identification number)
  5. Copy of valid photo identification of the principal(s) involved with the account (e.g., driver's license, passport, alien identification card)

Corporate Entities

  1. Name of business and corporate representatives
  2. Copies of current photo identifications of corporate representatives using the account
  3. Mailing address of the client’s principal place of business (we reserves the right to request the customer’s local address if the local address is not the same as the business’ principal place of business)
  4. Customer identification procedures shall be adhered to determine the beneficial owners of trust or corporate accounts. These procedures include establishing whether a customer is an agent of another; deriving information concerning the ownership or structure of a company that is a legal entity not publicly traded in the US or other countries; and for trustees, getting data about the trust structure, determining the provider of funds, and discerning who has control over the funds and power to remove the trustee.

VII. VERIFICATION

Documents used in opening an account relationship must be verified prior to establishing the account. Verification of identity will require multi-factor authentication, layered security and other controls to ensure a meaningful user identity confirmation process based on account size or other factors. The following are examples of verification methods the Company may use:

  • Obtaining proof of address, such as a copy of a utility bill or bank statement from the account holder.
  • Comparing the identifying information with information available from a trusted third party source, such as a credit report from a consumer-reporting agency
  • Analyzing whether there is logical consistency between the identifying information provided, such as the customer’s name, street address, ZIP code, telephone number, date of birth, and social security number (logical verification).
  • Utilizing knowledge-based challenge questions.
  • Utilizing complex device identification (such as “digital fingerprints” or geo-location checks).
  • Obtaining a notarized copy of an individual’s birth certificate for valid identification.
  • When the type of account increases the risk that the Company will not be able to verify the true identity of the customer through documents is confirmed the account will be closed.

VIII. AML SCREENING

The Company shall screen each prospective purchaser in its token sale for matches in the following categories:

  • Global Sanctions List: Screening prospective purchasers against OFAC sanctions.
  • PEPs: Screening prospective purchasers for identification as a "politically exposed person". A PEP is a term describing someone who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence that they may hold.
  • Adverse Media: Screening prospective purchasers against adverse media involves looking for any negative mentions of them in traditional news media and publicly available information more broadly.

Any prospective participant that has a match on any of the above categories shall be flagged and blocked pending review by the Company and its counsel of the red flag. The prospective purchaser will receive an email letting them know of that it is being reviewed and a follow-up email letting the prospective purchaser of the disposition of the review as set out below.

IX. DISPOSITIONS OF AML FLAGS

  • Global Sanctions List: If the flag is a match on the Global Sanctions List, the Company shall outright deny the purchaser and let them know of the disposition of the review.
  • PEPs: If the flag is a match on PEPs the Company’s counsel shall review the AML report and may request proof of identification or additional verification from the prospective purchaser within seventy-two (72) hours of the flag. After receiving any additional verification information Company shall provide the prospective purchaser with notice of disposition within seventy-two (72) working hours of receipt of such additional information.
  • Adverse Media: If the flag is a match on Adverse Media, the Company’s counsel shall review the adverse media and make a determination on whether to allow the prospective purchaser within seventy-two (72) working hours of the flag.

X. FLAGGED TRANSACTION AND ACTIVITY REPORTS

The Company will diligently monitor transactions for suspicious activity. Transactions that are unusual will be carefully reviewed to determine if it appears that they make no apparent sense or appear to be for an unlawful purpose. Internal controls will be implemented so that an ongoing monitoring system is in place to detect such activity as it occurs. When such suspicious activity is detected, the Company will determine whether a filing with any law enforcement authority is necessary. Suspicious activity can include more than just suspected money laundering attempts. Activity may be suspicious, and the Company may wish to make a filing with a law enforcement authority, even if no money is lost as a result of the transaction. The Company will initially make the decision of whether a transaction is potentially suspicious. Once the Company has finished the review of the transaction details, he or she will consult with the Company’s senior management to make the decision as to whether the transaction meets the definition of suspicious transaction or activity and whether any filings with law enforcement authorities should be filed. The Company will maintain a copy of the filing as well as all backup documentation. The fact that a filing has been made is confidential. No one, other than those involved in the investigation and reporting should be told of its existence. In no event should the parties involved in the suspicious activity be told of the filing. The Company may inform the Company’s Board of the filing and the underlying transaction.

XI. AML COMPLIANCE PERSON – DESIGNATION AND DUTIES

The Company has identified and designated a compliance person to be its Anti-Money Laundering Program Compliance Person (AML Compliance Person), with full responsibility for the firm’s AML program. The duties of the AML Compliance Person will include monitoring the firm’s compliance with AML obligations, overseeing communication and training for employees. The AML Compliance Person will also ensure that the firm keeps and maintains all of the required AML records and will ensure that suspicious activity reports are filed with VFSC. The AML Compliance Person is vested with full responsibility and authority to enforce the firm’s AML program.

XII.REPORTING REQUIREMENTS

Reasonable procedures for maintaining records of the information used to verify a person’s name; address and other identifying information are required under this Policy. The following are required steps in the record keeping process:

  • The Company is required to maintain a record of identifying information provided by the customer.
  • Where the Company relies upon a document to verify identity, the Company must maintain a copy of the document that the Company relied on that clearly evidences the type of document and any identifying information it may contain.
  • The Company must also record the methods and result of any additional measures undertaken to verify the identity of the customer.
  • The Company must record the resolution of any discrepancy in the identifying information obtained.
  • All transaction and identification records will be maintained for a minimum period of five years.

XIII. AML AUDIT

The Company is responsible for directing the annual AML audit of the Company’s operations. The independent audit will be conducted by an independent third party with working knowledge of BSA requirements, or by Company personnel with working knowledge of BSA requirements. The Company will develop corrective action plans for all issues that are raised in the audit and will provide the audit report and all corrective action plans to the Company’s senior management for review. Reports of corrective actions will continue until all are resolved.

Last Revised : January 31, 2018

RISKS DISCLAIMER

By purchasing, owning, and using SHIP tokens, you expressly acknowledge and assume the following risks:

1. Risk of Losing Access to SHIP Tokens Due to Loss of Private Key(s), Custodial Error or Purchaser Error

A private key, or a combination of private keys, is necessary to control and dispose of SHIPtokens stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing SHIPtokens will result in loss of such SHIP tokens. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet service you use, may be able to misappropriate your SHIP tokens. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store SHIPtokens in, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your SHIP tokens. Additionally, your failure to follow precisely the procedures set forth in for buying and receiving tokens, including, for instance, if you provide the wrong address for the receiving SHIP tokens, or provides an address that is not ERC-20 compatible, may result in the loss of your tokens.

2. Risks Associated with the Ethereum Protocol

Because SHIPtokens and the Universal Exchange Services platform are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the Ethereum protocol may have a material adverse effect on the platform or SHIP tokens. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to SHIPtokens and the platform, including the utility of SHIPtokens for obtaining services, by rendering ineffective the blockchain consensus mechanism that underpins the Ethereum protocol.

3. Risk of Mining Attacks

As with other decentralized blockchain tokens based on the Ethereum protocol, SHIPtokens are susceptible to attacks by miners in the course of validating SHIPtoken transactions on the Ethereum blockchain, including, but not limited, to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to the platform and SHIP tokens, including, but not limited to, accurate execution and recording of transactions involving SHIP tokens.

4. Risk of Hacking and Security Weaknesses

Hackers or other malicious groups or organizations may attempt to interfere with the platform or SHIP tokens in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing, and spoofing. Furthermore, because the platform is based on open-source software, there is a risk that a third party or a member of the Company team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the platform, which could negatively affect the platform and SHIP, including the utility of SHIPtokens for obtaining services.

5. Risks Associated with Markets for SHIP tokens

If secondary trading of tokens is facilitated by third party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to fraud or manipulation. Furthermore, to the extent that third-parties do ascribe an external exchange value to SHIPtokens (e.g., as denominated in a digital or fiat currency), such value may be extremely volatile.

6. Risk of Uninsured Losses

Unlike bank accounts or accounts at some other financial institutions, SHIPtokens are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by Company, to offer recourse to you.

7. Risks Associated with Uncertain Regulations and Enforcement Actions

The regulatory status of SHIP tokens and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to such technology and its applications, including the Universal Exchange Services platform and SHIP tokens. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting distributed ledger technology and its applications, including the platform and SHIP tokens. Regulatory actions could negatively impact the platform and SHIP tokens in various ways, including, for purposes of illustration only, through a determination that the purchase, sale and delivery of SHIPtokens constitutes unlawful activity or that SHIPtokens are a regulated instrument that require registration or licensing of those instruments or some or all of the parties involved in the purchase, sale and delivery thereof. The Company may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.

8. Risks Arising from Taxation

The tax characterization of SHIPtokens is uncertain. You must seek your own tax advice in connection with purchasing SHIP, which may result in adverse tax consequences to you, including withholding taxes, income taxes and tax reporting requirements.

9. Risk of Competing platforms

It is possible that alternative platforms could be established that utilize the same open source code and protocol underlying the platform and attempt to facilitate services that are materially similar to the Universal Exchange Services platform.

10. Risks Arising from Lack of Governance Rights

Because SHIPtokens confer no governance rights of any kind with respect to the Universal Exchange Services platform or the Company, all decisions involving the Company’s products or services within the platform or the Company itself will be made by the Company at its sole discretion. These decisions could adversely affect the platform and the utility of any SHIPtokens you own, including their utility for obtaining services.

11. Unanticipated Risks

Cryptographic tokens such as SHIPtokens are a new and untested technology. In addition to the risks included in this Risks Disclaimer, there are other risks associated with your purchase, possession and use of SHIP tokens, including unanticipated risks. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in this Risks Disclaimer.

For further Information regarding the SHIP sale, please contact us here.

01. What is Shipowner.io?

Shipowner.io is a platform that connects buyers and sellers of marine assets and services via distributed ledger technology at the lowest cost and highest levels of customization compared to existing models.

02. What is Shipowner.io’s mission?

Our mission at Shipowner.io is to deploy cutting edge technology to facilitate wider access and participation in the maritime industry, allowing our stakeholders to achieve portfolio diversification, superior liquidity and an equitable sharing of benefits, while trailblazing industry transformation towards greater accessibility, efficiency, rationality and transparency.

03. What are SHIPs?

SHIPs (or Shipping Industry Participations) are tokens that allow users to interact and transact on shipowner.io

04. What are the benefits for SHIP Owners?

SHIP Owners have global access to the latest tokenized marine assets and services available in the market place. Unlike existing business models, these projects are not reserved for the select few and are accessible by anyone who is a SHIP Owner. SHIP Owners can benefit from diversification and liquidity, in addition to supporting projects that will drive the future landscape of the marine industry.

05. How can I check if I am eligible for becoming a SHIP Owner?

Upon filling up your tier verification data, our 3rd party service providers conduct a KYC / AML check and inform us of your eligibility. Under standard checks we can inform you of your eligibility within 24 hours.

06. How do I become a SHIP Owner?

You can either purchase SHIPs during our upcoming phased token sales or from secondary market after all token sale phases are over.

07. What is SHIP sale schedule?

Our crowdsale is divided into 4 phases – Officer of Watch, Lietenant, Master & Commander & Fleet Admiral. Please see Token Sale Terms on www.shipowner.io/home. for further details.

08. What is the total token supply and token distribution strategy?

A total of 1.5 billion token will be minted. For token distribution, please see Token Sale Terms on www.shipowner.io/home.

09. What happens to SHIPs which are not sold during the planned sale?

SHIPs not sold during our crowdsale will be added to the company’s liquidity reserve.

10. Can I use exchanges for purchasing SHIPs?

During our token sale phases, SHIPs will ONLY be available via shipowner.io. After you’ve registered, you will receive information on how to purchase SHIPs. We are also working towards creating a secondary market exchange (Exchange SHIPs) for all tokens issued on shipowner.io. As soon as it is ready, you will be able to buy and sell SHIPs as well as other asset / service tokens any time.

11. How can I check my SHIP balance?

You can check your SHIP balance on your dashboard section of the website.

12. When will I get to use SHIPs?

We will open up the market place for purchasing tokenized assets and services. You can already see assets and services which have been committed for sale on shipowner.io

13. Where can I use SHIPs?

You can use SHIPs only on our online marketplace (USE SHIPs) to buy tokenized assets and services and pay for transaction costs.

14. What are the benefits for asset and service owners listing their offerings on Shipowner.io?

Direct access to a pool of dedicated community users, thereby bypassing traditional intermediaries.

15. What types of tokenized assets and services will be available on Shipowner.io?

All marine assets and associated services can be listed on shipowner.io. As the platform evolves, we expect all asset types (64 sectors) and all associated services to be listed.

16. How can I buy a tokenized marine asset on Shipowner.io?

Click the link on the tokenized asset that you want to purchase and follow the simple instructions. As a SHIP Owner, you will already benefit from pre-verification checks and the buying process will comprise of only a few clicks.

17. How can I buy a tokenized marine service on Shipowner.io?

Click the link on the tokenized service that you want to purchase and follow the simple instructions. As a SHIP Owner, you will already benefit from pre-verification checks and the buying process will comprise of only a few clicks.

18. Is there a minimum and maximum participation level in any project to use SHIPS for tokenized assets / services.

Minimum thresholds for each tokenized asset or service will be mentioned on the market place. These are set by asset owners and service providers.

19. Is there a minimum / maximum timeline for holding the tokenized assets?

There is no minimum holding period for holding tokenized assets. You may trade them at any time on shipowner.io’s exchange when operational.

20. Do I need to buy back my tokenized marine asset or service?

Usually there is a put option back to the current asset owner. However, it can vary from deal to deal. Please see details on the link for each tokenized asset. This process does not apply to tokenized services.

21. Who holds the physical asset on behalf of users?

The physical asset is held by a third party company. The Board of this company comprises of persons of high standing in the maritime industry to ensure protection of underlying value/earnings capability of the asset and to ensure that operations are conducted / cash flows maintained in a transparent manner for the benefit of fractional asset holders.

22. What happens if I (as an asset provider) don’t buy back my asset at the pre-determined date?

If you don’t buy back your tokenized asset at the pre-defined date in the contract, the asset will be sold by the third party company for fiat, and the proceeds redistributed to tokenized asset holders.

23. What is Shipowner.io’s competitive advantage?

Leveraged off an existing business model, disrupts the status quo while facing little or no resistance from incumbent business models and has a first mover advantage in consolidating the entire maritime industry under one focused marketplace. Most importantly, it is a working solution, not just an idea on a whitepaper.

24. How are smart contracts related to tokenized marine assets and services enforced?

Our legal structure and establishment of a third party asset holding set up controlled by an independent Board ensures that all clauses in smart contracts are enforced and strictly adhered to. For transparency, all transactions and contract enforcement decisions will be visible for tokenized asset holders to evaluate.

25. Is Shipowner.io regulated?

We have applied for a full service securities dealer license covering the full spectrum of financial instruments (currencies, commodities, equities, debt instruments, indices, CFDs, futures and options etc) that our platform can deal in. Further details and our future plans on acquiring additional licenses can be found in the whitepaper. Unlike other platforms that are either not giving sufficient thought to the changing regulatory environment or skirting the regulatory issue altogether, we consciously decided to become a regulated and licensed service provider to assure our community of users, asset owners and service providers of the highest levels of integrity and professionalism, that defines our culture.

26. How secure is Shipowner.io?

We have created a highly secure platform which has been audited by independent third parties. Furthermore we have implemented 2-factor authentication, SSL protocols, an abstract RESTful service layer, customized token based security protocols and deployed our system on the best secure cloud service available in the market.

27. What fees do you charge?

We charge an asset onboarding fee based on liquidity and ease of tokenization, a flat service onboarding fee and a transaction fee on our future online exchange for tokenized assets and services.