These terms and conditions of use (Terms) form a binding legal agreement between the customer
(you, your) and Rhino Loft Pty Ltd trading as CoinLoft ABN 74 155 153 530
(CoinLoft, we, us, our) and Future Cat Pty Ltd ABN 17 603 898 620 (Future Cat),
and Tech Seven Pty Ltd ABN 33 606 283 747 (Tech Seven),
and Tech Three Pty Ltd ABN 38 608 670 408 (Tech Three),
and Mango Planet Pty Ltd ABN 12 608 096 886 (Mango Planet),
and Tech Zero Pty Ltd ABN 63 612 728 604 (Tech Zero),
related companies of CoinLoft.
- Our Service
- We provide buyer's agency services (Services) for digital currency purchasers,
to allow you to quickly and easily buy bitcoin and ether at a fair market rate.
- By placing an order (Order) on the Website, you agree to be bound by
Terms, which govern all aspects of the provision of the Services.
- How the Order works
- You must transfer the payment for the Order in Australian dollars to one of the
Australian bank accounts we nominate, by direct over-the-counter cash deposit.
The bank account may be held by us or by Future Cat Pty Ltd or by Tech Seven Pty Ltd
or by Mango Planet Pty Ltd or by Tech Three Pty Ltd or by Tech Zero Pty Ltd.
- You must ensure the payment is made within the 'valid for' time specified on the Order
We have no obligation to fulfil the Order if payment is not received within the
specified time. If we choose not to fulfil an order then we will refund the payment for
the Order to you in full.
- You must keep a copy of the bank deposit receipt and provide it to us on request.
- We will immediately transfer the bitcoin or ether, once acquired, to the wallet address
that you provide in the Order form.
- Appointment as your agent
- You appoint us as your agent for the sole purpose of acquiring the bitcoin or ether under the
- You direct and authorise us to acquire the relevant amount of bitcoin or ether set out in the
- on your behalf; and
- at the agreed price set out in the Order form on the Website (even if the actual
price is different from the agreed price - in which case we will bear the
difference as set out below).
- The agreed price quoted on the Website is based on the current average price across the
various digital currency exchanges we use to acquire bitcoin or ether for you. It takes into account
fluctuations in the prices quoted on those exchanges as well as (where relevant) the
exchange rate between Australian Dollars and the other fiat currencies used by those
- From time to time, variations in the price offered on a bitcoin or ether exchange may result in
the actual price of the bitcoin or ether being higher or lower than the agreed price set out in
your Order. However, we will always honour the price set in your Order, as follows:
- If the price we pay on a bitcoin or ether exchange to acquire bitcoin or ether on your behalf is
higher than the agreed price in the Order, we will bear the cost of this
- b) If the price we pay on a bitcoin or ether exchange to acquire bitcoin or ether on your behalf
is lower than the agreed price in the Order, you authorise us to retain the
- Our authority and responsibility as agent is limited to acquiring the bitcoin or ether on your
behalf under the Order.
- We retain full discretion to choose where to acquire the bitcoin or ether.
- We confirm and warrant that we do not act as agent for any digital currency exchange or
digital currency seller or accept any commission or other form or remuneration from
any digital currency exchange or digital currency seller.
- We reserve the right to refuse to act as agent to anyone for any reason at any time.
- We reserve the right to not provide information or reasons as to why we may have refused to act as agent.
- Our Fees
- We charge you a fee (Commission) which is a fixed percentage of the
Australian Dollar value of the Order, which you must pay at the same time as payment for
- The Commission is clearly set out on the Order page before you make an Order. We reserve
the right to change the rate of the Commission at any time (except for existing Orders).
- The Commission is calculated automatically and included within the total price of the
Order displayed on the order confirmation page.
- We charge GST on the Commission. The Commission is quoted including GST.
- Immediately upon completing the Order, we will provide you with a tax invoice which
specifies the amount of bitcoin or ether acquired, the amount of the Commission, GST charged on
the Commission, and the total amount you paid for the Order.
- We make no representation or warranty as to whether or not the digital currency that you have
acquired is a creditable acquisition for Goods and Services Tax.
- We are not required to confirm the identity of the seller of the digital currency.
- No Guarantee
- We are not obliged to notify you of any malfunction in our Services, or if any Service
feature is limited, restricted or ceases.
- Although we take reasonable steps to protect the integrity and reliability of our
Services, we do not warrant and do not give you any guarantee or representation that:
- our Services or any information or other material accessible through our
Services will be uninterrupted, timely, reliable, secure, error-free or is free
of any virus, worm, trojan horse or other harmful component;
- there will be any operational stability, availability or continuation of our
- your use of our Services will not infringe the rights of any third party; or
- there will be any continuation of the agreement formed under these Terms.
- We warn you that our Services may be discontinued at our sole and absolute discretion
and that our Services may be inoperable at times due to:
- down time and scheduled maintenance;
- outages to any public Internet backbones, networks or servers;
- equipment failure including the failure of third party systems such as
international or local access systems; or
- a Force Majeure Event.
- Limited Liability
- Neither CoinLoft nor Future Cat nor Tech Seven nor Mango Planet nor Tech Three nor Tech Zero is
liable to any extent for any loss you suffer:
- a) as a result of you directing us to transfer bitcoin or ether to an incorrect wallet
public address, you losing control of or access to your bitcoin or ether wallet or
private key or otherwise losing the ability to spend the unspent bitcoin or ether at your
wallet public address; or
- as a result of you failing to deposit, or a bank failing to process, payment for
your Order within the specified timeframe; or
- as a result of the Service being unavailable at any time.
- To the maximum extent permitted by applicable law, CoinLoft disclaims all warranties,
either express or implied, including but not limited to:
- uninterrupted or continuous availability of our Services; and
- implied warranties of merchantability, fitness for a particular purpose with
respect to our Services under these Terms.
- Certain laws may not allow the exclusion of some conditions and warranties in which case
some of the above exclusions may not apply to you.
- Under no circumstances (including but not limited to any act or omission on the part of
CoinLoft) will CoinLoft be liable for any indirect, incidental or, special and/or
consequential damage or loss of profits, goodwill or reputation including, without
limitation, damages arising out of an action under contract, negligence or any other
theory or for any loss or consequential loss including any business profits, business
information, business reputation, business opportunity, goodwill or any business
interruption or other pecuniary loss or any incidental damages, punitive damages or
exemplary damages whatsoever that result from your use of the Services or your inability
to use or access the Services (Damages).
- Subject to the following LOCAL LAWS paragraph, CoinLoft, to the full extent permitted
- excludes all warranties, conditions, terms, representations and undertakings,
other than an undertaking set out in these Terms (whether express or implied),including without limitation with respect to advertising or other services;
- limits the obligation of CoinLoft to provide any services, to the obligation to
supply our Services again, or to pay the cost of having our Services supplied
- limits the aggregate liability of CoinLoft to $AUD50:
- in relation to any claim; or for any Damages whatsoever.
- The limitations set out in this clause apply regardless of whether the liability or
damage is directly or indirectly related to a breach of these Terms or negligence or any
other tort or for any other common law or statutory cause of action arising in relation
to these Terms or the Services.
- The stated liability limits are an essential basis of the bargain between the parties
and CoinLoft's agreement to allow you to use the Services.
- CoinLoft has no liability for any Force Majeure Event.
- CoinLoft may plead these Terms in bar to any claim, action, proceeding or suit brought
by you against CoinLoft in relation to any of our Services or otherwise in respect of
these Terms or your use of our Services. This does not affect any rights you may
lawfully have against CoinLoft for the acts or omissions of CoinLoft.
- If you agree to these Terms you represent to CoinLoft that you:
- are 18 years old or older; and
- are capable of entering into a legally binding agreement.
- You also represent and warrant that:
- all information you have provided to CoinLoft is correct and current;
- you have the power and authority necessary to enter into the agreement formed
under these Terms and to perform the acts required under these Terms;
- you have complied and will continue to comply with all applicable laws,
statutes, ordinances, and regulations (including without limitation anti-spam
laws and any relevant data protection or privacy laws);
- you will not and have not breached any duty toward or rights of any person or
entity including, without limitation, rights of intellectual property, publicity
or privacy, or rights or duties under consumer protection, product liability,
tort, or contract theories.
- you will not use our service to obtain bitcoin or ether for illegal purposes,
including but not limited to, money laundering, illegal gambling,
terrorism financing or any other criminal activity.
- Local Laws
- These Terms will not be excluded to the extent that such exclusion is prohibited by the
laws of the jurisdiction where you reside and where those laws confer rights and
remedies and imply terms into these Terms that cannot be excluded.
- If a jurisdiction does not allow an exclusion or limitation of liability, but allows a
limitation to a certain maximum extent, then liability of CoinLoft is limited to that
- If any provision in these Terms is invalid under any law the provision will be limited,
narrowed, construed or altered as necessary to render it valid but only to the extent
necessary to achieve validity.
- If necessary the invalid provision will be deleted from these Terms and the remaining
provisions will remain in full force and effect.
- If any provision of these Terms is deemed unlawful, void, or for any reason
unenforceable, that provision will be deemed severable from these Terms and will not
affect the validity and enforceability of any remaining provisions.
- No Waiver
- A failure by CoinLoft to act with respect to a breach by you or any third party does
not waive the right of CoinLoft to act with respect to subsequent or similar breaches.
- CoinLoft has the right to assign these Terms in whole or in part to any person or
- You may not assign your rights or delegate your obligations under these Terms without
the prior written consent of CoinLoft.
- Entire Agreement
- This Agreement and all documents referenced in this Agreement comprise the entire
agreement between you and CoinLoft in relation to your use of the Services and
supersede all prior agreements between the parties.
- Governing Law
- The laws of Victoria govern any agreement formed under these Terms and the parties
irrevocably submit to the jurisdiction of the courts of that State.
- Credit Card processing
CoinLoft use Simplex as their Credit Card processor which requires the following terms
- CoinLoft uses third party services and such third party’s affiliates services which enable you to place monetary deposits and perform transfer of payments within CoinLofts website by making use of your existing credit card (as and if available and applicable) (the “Service” and the “Third Party Service Provider”). The Services do not include any additional service, and such third party services do not include providing and/or depositing the applicable Cryptocurrency at your account.
- CoinLoft may share and transfer (including cross border transfer) Personal Information with the Third Party Service Provider for the purpose of rendering the Services which will be made to CoinLofts website via the use of your credit card. The Personal Information will be shared with the Third Party Service Provider after you elect to execute such monetary payments by using the Services of the Third Party Service Provider. For the purpose of this section Personal Information shall include information that identifies or may identify you, including the information submitted by you through the registration form when you subscribe to the website such as your E-mail address, password, country and city and/or information provided through social websites or any other identifying information provided by you while using the services of our website.
- In addition, we may transfer any Non-Personal Information provided by you through your use of the services on our website to the Third Party Service Provider in order to allow the Third Party Service Provider to perform preliminary examinations of Non-personal Information for the purpose of determining if you are qualified to use the services of such Third Party Service Provider (including the history of your transactions on the website which will be provided without any identifying information and solely for the purpose of performing the preliminary examinations).
- By accepting these terms, you represent that any and all information you provide us is true and accurate. Any false or fraudulent information and/or use of the services rendered to you is prohibited.
- You are not obligated by law to provide CoinLoft and/or the Third Party Service Provider with any Personal Information. You hereby acknowledge and agree that you are providing CoinLoft and/or the Third Party Service Provider with Personal Information at his/her own free will, for the purposes of rendering the Services.
This policy was last updated on November 25 2016