logo
gram

You asked, we delivered

Highly demanded unlocked Gram is here.

3.99 USDTSold out
4.99 USDTActive now

Your memorable chance to get Grams just for one Big Mac.

I know things Tell me the terms!
I live under a rock What is Gram?

All you have to know about the sale

Sale startsSep 19, 2019, 9:00am UTC
Sale endsOct 25, 2019, 6:00pm UTC
Accepted CurrencyUSDT. Learn more how to use other currencies.
Gram Token Price3.99 - 4.99 USDT
Gram Token StatusUnlocked. Learn more.
Gram token DeliveryImmediately after TON release. Learn more.
TON Mainnet LaunchExpected Oct 31, 2019
Gram Tokens For Sale1,000,000

After purchase you instantly receive GRAMC, which converts to Gram after listing. Learn more.

illustration

Sale Waves

3.99 USDT19 - 24 Sep
1st Wave
4.99 USDT25 Sep - 09 Nov
2nd Wave

TON Comes to Change Everything

gram

Telegram Open NetworkThe Telegram Open Network (TON), developed by Telegram co-founder Dr. Nikolai Durov, is a fast, secure and scalable blockchain network, capable of handling millions of transactions per second. It is both user-friendly and service provider-friendly, intended to host and provide a variety of services built by Telegram or other developers and publishers. Telegram describes the TON as a huge distributed supercomputer.

Gram TokenThe Gram (GRM) is the cryptocurrency of the TON Blockchain. It is a multi-purpose coin and used for example to make deposits required to become a validator, transaction fees, gas payments, storage payments, etc. With hundreds of millions of users, Telegram has a massive community of active and engaged users which will boost the growth of TON and will increase the demand of Gram through its huge ecosystem.

The Success Behind Telegram Telegram is a cloud-based instant messaging and voice over IP mobile and desktop messaging app with a focus on security and speed.

users

250 Million

Active users
users

70 Billion

Messages a day

TON Highlights

illTestnet launchedSep 7, 2019
illMainnet launchExpected Oct 31, 2019

To learn more about the Telegram Open Network, please read the Whitepaper and research the documentation.

ill

Don’t be selfish, tell others

Share your personal invite link and earn 2.5% of the total paid amount of your referral. Learn more about the terms.

Get your link

Questions & Answers

A set of the most important questions and answers about TON, Gram and the Sale. For additional questions, contact our Support center or join our Telegram channel.

What is Telegram Open Network?

The Telegram Open Network (TON), developed by Telegram co-founder Dr. Nikolai Durov is a fast, secure and scalable blockchain network, capable of handling millions of transactions per second. It is both user-friendly and service provider-friendly, intended to host and provide a variety of services built by Telegram or other developers and publishers. Telegram describes the TON as a huge distributed supercomputer.

TON is built to speed up transactions on the blockchain in order to make crypto transactions more available to the public while maintaining the decentralized environment.

The transactions that will take place on this blockchain do not require waiting, large fees and are executed as quickly as current payment card providers because TON will be using and combining more than 1 blockchain, sometimes even multi-blockchains.

It is based on the Proof-of-Stake protocol which will make transactions secure. The blockchain will support sharding technology, which will speed up the generation of new blocks and increase the speed of transactions.

What is Gram?

The Gram [GRM] token is the cryptocurrency of the TON Blockchain. It is a utility token and will be used within the TON economy and for its products and services. The total supply of Grams is originally limited to 5 billion.

Backed by Telegrams massive community and its huge TON economy, Gram is set to be one of the hottest tokens, ever. It comes with the potential to be used by hundreds of millions of users which in return will boost the growth of TON and also increase the demand of Gram very quickly. Compared to other token economies, Telegram has a working product with a huge active and engaged user base.

What are some use cases of the Gram token?

The TON includes but is not limited to the following products and services:

  • TON Storage: A distributed storage system, similar to Dropbox.
  • TON Proxy: A decentralized blockchain based VPN service.
  • TON Services & DNS: A platform for the provision of 3rd party services allowing the use of domain name services.
  • TON Payments: A service for micropayments and P2P transactions.

Thus, here are some use cases where Gram can be used on or off TON:

  • Commissions paid to validators for processing transactions
  • Payment service providers and merchants using TON Payments
  • Service providers building dApps on TON
  • Data storage and usage
  • Usage of TON Proxy
  • Trading of gram outside of TON
What currencies can be used to buy Gram?

Tether (USDT) can be used to buy Grams. USDT is a stablecoin with a 1:1 value with the USD and is the largest stablecoin by market capitalization in the crypto world. Stablecoins provide an easy medium for exchange among cryptocurrencies. USDT may be deposited to your wallet or traded against EURO, BTC, ETH and more than 20 other cryptocurrencies.

What is the difference between locked and unlocked Gram tokens?

Unlocked Gram tokens are instantly available to be traded after TON is released, while locked Gram tokens are only available to be traded after a period of 1.5 half years following TON’s release. In other words, getting unlocked Gram tokens from ATAIX lets you trade them instantly after TON is launched.

What is the price of the Gram tokens?

The initial price of Gram tokens is set by the Seller at 3.99 USDT per token. Two rounds of sale are envisaged, with subsequent price increases for each next round as follows:

  • 1st round: 3.99 USDT
  • 2nd round: 4.99 USDT
When will the sale be held?

The Gram token sale starts on the 19th of September 2019, 9:00am UTC, and will last until the 25th of October 2019, 6.00pm UTC. The sales will be conducted in 2 separate rounds:

  • 1st round: 19 - 24 Sep, 2019
  • 2nd round: 25 Sep - 25 Oct, 2019
What is a GRAMC?

A GRAMC (Gram Contract) is a conventional unit with a 1:1 value with the Gram. It is not tradable and is solely used to convert your purchased Gram tokens once they become available and are listed on ATAIX after the official TON release, which is anticipated for October 31, 2019. Conversion from GRAMC to GRAM will happen automatically and instantly after the release within your ATAIX Wallet.

Do I need an ATAIX account to take part in the sale?

Yes. You have to open an ATAIX account and you will need to verify your account to take part in the Gram token sale. Signing up is free and the verification process is very easy; you just need to confirm your phone number and submit a proof of identity and proof of residence. For security reasons, activation of 2FA is strongly recommended. Learn more about how to open and verify your ATAIX account. For help with verification, please contact our 24/7 Support center.

Are Gram tokens tradeable before the launch of TON?

Grams will be reflected in your ATAIX wallet as GRAMCs and will automatically be converted to Grams in your ATAIX wallet once TON is released and Gram is listed on ATAIX. Purchasers will not be able to transfer, withdraw, or trade the GRAMCs before the TON mainnet goes live and Grams are released, in accordance with the delivery schedule.

When is the TON release scheduled for?
TON is expected to be released on October 31, 2019. After the Testnet launch on September 7, 2019, it looks promising that the aforementioned date will in fact be the date of the mainnet release. Please note that neither ATAIX nor any other party can interfere nor change the release date and it is solely the decision of TON.
Where will funds from the sale be kept?

All buyer funds from the sale will be kept in USDT in a segregated wallet under escrow until the Gram tokens are delivered. Grams will be minted and delivered to your ATAIX Gram wallet as per the delivery schedule following the TON mainnet launch planned for October 2019.

Who is PWFM?

PACIFIC WORLD FUND MANAGEMENT (PWFM) CO. LIMITED, (UNIT 211 YI TAK HOUSE CAPE ROAD STANLEY HONG KONG) remains the consolidated seller of Gram tokens on ATAIX during the sale period. PWFM is the underwriter that will deliver the sold Gram tokens following TON’s release.

How does the referral work?

You can earn by inviting your friends to sign up for an account and purchase Gram on ATAIX. You can invite friends by sharing your invite link from your referral dashboard. Invited users have to register and verify an account on ATAIX using your referral link. You will receive 2.5% of total paid amount, up to a maximum of 500 USDT per every successful referral.

Where can I get help?

For any further questions, please don’t hesitate to contact our 24/7 Support Center or join our community on Telegram to get involved in discussions about the sale.

Crypto trading made easy

Fiat money, all major and emerging coins. Fast and secure.

ATAIX allows you to securely trade and store major cryptocurrencies, altcoins, tokens and fiat currencies on a user-friendly and fast platform.

ill

ATAIX exchange is an EU registered company and operates in accordance with the following two licences: Providing services of exchanging a virtual currency against a fiat currency and providing a virtual currency wallet service.

gram

Total0 USDT

Your balance 0.00 USDT

GENERAL PRE-SALE AND SALE TERMS

  1. .Definitions
    1. As used herein, the terms below shall have the following meanings:
      • (a) “Administrative Payment” means the payment to be paid by the Buyer to EuroToken OÜ as described in Section 4.3 for processing a cancelled or voided Buyer Order, which will be 15% of the value of such Buyer Order unless otherwise notified by EuroToken OÜ;
      • (b) “Allocated funds” means the Funds constituting the Price transferred by a Buyer from his ATAIX Account to, and thereafter held in the Escrow Account, which are deemed committed for such Buyer Order(s) and includes, where the context requires, Funds that had been disbursed to the Seller from the Escrow Account;
      • (c) “Conditions Precedent” has the meaning given to it in Section 5.2(c);
      • (d) “Delivery Schedule” has the meaning given to it in Section 5.4(a);
      • (e) "Encumbrance" means any mortgage, charge, security interest, lien, pledge, assignment by way of security, equity, claim, right of pre-emption, any right to acquire, right of first refusal, option, covenant, restriction, reservation, lease, trust, order, decree, judgment, title defect (including retention of title claim), conflicting claim of ownership or any agreement or arrangement to create any of the foregoing or any other encumbrance of any nature whatsoever (whether or not perfected);
      • (f) “Escrow Account” means the designated cold wallet(s) maintained by the Escrow Agent, the Digital Asset Address(es) of which will be as notified by EuroToken OÜ to the Buyer from time to time;
      • (g) “Escrow Agent” shall refer to EuroToken OÜ in its capacity as the provider of escrow services in relation to the Allocated funds;
      • (h) “Funding Currency” means either United States Dollars (USD) or USDT;
      • (i) “Grams” means the Digital Asset to be issued by the Token Issuer, that would constitute the native cryptocurrency of the blockchain platform called the Telegram Open Network (TON);
      • (j) “Price” means the amount denominated in either Funding Currency, required as consideration for Grams under a Buyer Order, as set out on the ATAIX Platform;
      • (k) “Buyer” means any individual, corporation or any other type of entity who has a ATAIX Account registered on the ATAIX Platform in accordance with the Terms of Use who participates in the Gram Token Sale through the submission of a Buyer Order;
      • (l) “Buyer Order” means an order of Gram tokens that the Buyer has committed to purchase, for such quantities as the Buyer has indicated on the ATAIX Platform during the Sale Term;
      • (m) “Purchase Transaction” shall have the meaning ascribed to it in Section 5.2(a);
      • (n) “EuroToken OÜ Parties” and “EuroToken OÜ Party” shall have the meaning ascribed to it in Section 11.2;
      • (o) “ATAIX Platform” means the online platform operated by EuroToken OÜ to provide Services, including the IEO Market on which the Gram Token Sale will be held;
      • (p) “Restricted Countries” means Afghanistan, Albania, Bahamas, Belarus, Bosnia & Herzegovina, Botswana, Burundi, Cambodia, Canada, Central African Republic, Côte d'Ivoire, Crimea, Cuba, Democratic People’s Republic of Korea, Democratic Republic of Congo, Eritrea, Ethiopia, Ghana, Guinea, Guinea-Bissau, Iran, Iraq, Japan, Kosovo, Kyrgyzstan, Laos, Lebanon, Liberia, Libya, Macedonia, Malawi, Mali, Moldova, Mozambique, Myanmar (Burma), Pakistan, Serbia, Somalia, South Sudan, Sudan, Syria, Tanzania, Timor-Leste, Trinidad & Tobago, Tunisia, Turkmenistan, Uganda, United States of America (USA) and USA territories, Uzbekistan, Venezuela, Yemen, and Zimbabwe;
      • (q) “Sale Term” means the duration for which Buyer Orders may be submitted by Buyers on the ATAIX Platform, which will commence at 8:00AM GMT, 9 September 2019 to 8:00AM GMT, 16 September, 2019 unless otherwise notified by EuroToken OÜ on the ATAIX Platform;
      • (r) “Settlement Date” means the date as described in Section 5.4(a) upon which EuroToken OÜ facilitates the discharge of the Seller’s and Buyer’s delivery and settlement obligations under the Purchase Transaction in accordance with the Delivery Schedule;
      • (s) “Terms of Use” means the ATAIX Terms of Use relating to the online access to the Site and Services (including the ATAIX Platform) by any person (a copy of which is accessible at https://www.ATAIX.com/), as may from time to time be amended, supplemented and/or substituted and reposted by EuroToken OÜ;
      • (t) “Token Issuer” means TON Issuer, Inc., the entity that will create and issue Grams; and
      • (u) “USDT” means “USD Tether”, a USD-backed cryptographic stablecoin that was developed by the TETHER.
      • (v) TETHER means entity or entities presented on https://tether.to as the developer of USDT.
    2. In these General Terms, unless the context otherwise requires:
      • (a) headings are for convenience only and do not affect the interpretation of these General Terms;
      • (b) person refers to an individual, a firm, a body corporate or an unincorporated association;
      • (c) any reference to any legal entity or individual persons includes, where appropriate, a reference to its authorized agents, delegates, successors or nominees;
      • (d) a reference to "including" means "including, without limitation";
      • (e) words importing the singular include the plural and vice-versa;
      • (f) words importing a gender include all other genders; and
      • (g) reference to “days” shall be construed as calendar days.
  2. .General conditions
    1. The terms and conditions in this document (“General Terms”) are intended to purchasing procedures, and purchases of Grams, on or through the ATAIX Platform (the “Gram Token Sale”) between:
      • (A) Pacific World Fund Management (UNIT 211 YI TAK HOUSE CAPE ROAD STANLEY HONG KONG) CO., LIMITED (the “Seller”), as the seller of the Grams;
      • (B) each Buyer
      • and
      • (C) EuroToken OÜ (14454785) (“Eurotoken”), as the operator of the ATAIX Platform and facilitator of the Gram Token Sale, (each a “Party” and collectively, “Parties”).

      By participating in the Gram Token Sale, you agree to enter into and be bound by these General Terms as a Buyer.

      These General Terms are accepted and entered into by all Parties on the date upon which the Buyer has indicated acceptance of the same.

    2. Buyers are bound by both the Terms of Use and these General Terms. If there is any conflict between the two in respect of the matters set out in these General Terms, these General Terms will prevail only to the necessary extent to resolve such conflict. For the avoidance of doubt, all other terms of the Terms of Use (to the extent that they are not inconsistent with these General Terms) shall continue to bind the Buyers.
    3. Unless otherwise expressly provided, the Sections in these General Terms shall continue and bind Parties throughout the entire Gram Token Sale until all Purchase Transactions contemplated herein have concluded and all Grams due to the Buyer have been delivered in accordance with Section 5.
  3. .Risks disclosure
    1. PLEASE PAY ATTENTION THAT pre-sale and sale of Gram by Eurotoken on its ATAIX digital asset exchange platform is subject to the risks and terms stated in the present section. Please read carefully before proceeding to learn and agree with our assumptions on associated risks that apply in addition to those that are provided on ATAIX.com as concerns the general terms for its services.
    2. The Gram token (or “Gram”) is the native utility token of the Telegram Open Network (TON), a blockchain network, both of which are still in development. There is a risk that Grams and TON mainnet may not be issued or launched, the consequence of which would be that the Buyer Orders will be cancelled, Buyers may not receive their Grams, and the corresponding price in USDT will be returned to Buyer.
    3. The identity of the seller in the Gram Token Sale is not the token issuer. In addition to the risk of delivery failure by the token issuer, there is the additional risk that the seller may default in its delivery obligations and Buyers may not receive their Grams as a result, and the corresponding purchase price in USDT will be returned to Buyer.
    4. Buyers’ funds will be held in escrow in USDT for a period of time (including any amounts paid in USD which will be converted into USDT), and any refunds made will be in USDT. The issuance, redemption and total supply of USDT is managed by a third party, TETHER. During the time between the payment of the purchase price and the credit of the refund (if any), there is a risk that the value of USDT may be affected by actions, omissions or circumstances of TETHER. Risk factors associated with USDT can be found at https://tether.to .
    5. The Grams in the Gram Token Sale are not available for purchase by persons residing, located, domiciled, incorporated or established in the specified restricted countries.
    6. The token issuer may also impose restrictions on the resale or transfer of Grams, including resale or transfers to holders in certain jurisdictions. Any restrictions imposed by the token issuer may adversely impact Buyers’ ability to receive the Grams, their ability to resell the Grams in addition to the price at which Gram holders may be able to resell them, if at all.
    7. There is an extended period of commitment of Buyers’ funds in escrow. Buyers will not be able to utilize the funds during this period while the funds are held in escrow in a cold wallet.
    8. Buyer will bear the risk of any loss arising from the use of the escrow arrangement. In the event that the Escrow Account is, for any reason whatsoever, inaccessible, destroyed or otherwise compromised, the USDT held by the Escrow Account may not be able to be retrieved and disbursed, and may be permanently unrecoverable. In such event, the seller may not receive any funds, the Buyer Orders may be deemed to be cancelled and Buyers may not receive any reimbursement.
    9. The Grams in the Gram Token Sale will be delivered within the issuer’s delivery schedule. If there is a secondary market, Grams may be exposed to fluctuations in market rates during such period of time pending delivery.
    10. There are no guarantees that there will be a secondary market that will facilitate the trading and resale of Grams or that the Grams will have any liquidity on any exchange. The liquidity of the Grams will depend on various factors such as (without limitation):
      • the number of Gram holders;
      • the actions of the token issuer;
      • the interest of traders in making a market in the Grams; and/or
      • regulatory developments in the digital token or cryptocurrency industries.
    11. The such status as legal, regulatory and tax status of digital tokens such as Grams is unclear or unsettled in many jurisdictions. It is possible that governmental authorities may ban, restrict, or take other actions or there are developments of laws or regulations in any jurisdictions that could negatively impact Eurotoken, the seller, the token issuer or yourself in respect of the acquisition, sale, delivery, or other transactions involving Grams that have yet to be completed.
    12. Parties understand and agree that USDT and Grams may be either kept or handled on a pooled and aggregated basis, such that it is not possible to identify individual interests of each Buyer to the USDT or Grams. As a result of such pooling or aggregation, any loss of USDT or Grams may have to be shared by all Buyers.
  4. .Participate conditions
    1. To participate as a Buyer a person must have an ATAIX Account and fulfil the following conditions at all times during the Gram Token Sale:
      • (a) the person must satisfy and pass Eurotoken’s Screening Procedures;
      • (b) the person must not be residing, located, domiciled, incorporated or established in any of the Restricted Countries; and
      • (c) the person must fulfil such other internal policies and requirements of Eurotoken as may be imposed from time to time to maintain his ATAIX Account and use the ATAIX Platform, (collectively, the “Eligibility Standard”).
    2. In despite of Section 4.1, Eurotoken retains the sole and absolute discretion at all times to determine whether to allow a person to participate as a Buyer in the Gram Token Sale. Without limiting the generality of the foregoing, Eurotoken may at any time take any necessary action, including voiding or cancelling a Buyer Order and/or disqualifying a person from participating as a Buyer, when Eurotoken believes:
      • (a) such action is appropriate in order to comply with its legal or regulatory obligations; or
      • (b) such person has not satisfied the Eligibility Standard.
    3. If a Buyer Order is cancelled or voided by Eurotoken for the reasons specified under Section
    4. (a) or (b), the Buyer’s Allocated funds shall be returned to his ATAIX Account less the Administrative Payment.
    5. The Buyer shall promptly notify Eurotoken if any facts arise that could result in such Buyer no longer meeting the Eligibility Standard.
  5. .Gram purchase regulations
    1. Buyer Orders
      • (a) The Buyer may submit a Buyer Order on the ATAIX Platform during the Sale Term provided that the Buyer has sufficient Funding Currency in his ATAIX Account for the Price of such Buyer Order. All Buyer Orders must meet the minimum value of Gram tokens that must form the subject of a Buyer Order as specified on the ATAIX Platform during the Sale Term. The Buyer may not withdraw or cancel Buyer Orders after the point of submission.
      • (b) Eurotoken will process the Buyer Orders and update Buyers’ ATAIX Accounts with the quantity of Gram Tokens to reflect the Grams that have been ordered thereunder. This is for reference purposes only and does not represent actual ownership of the Grams. Title and ownership of the Grams will only pass in accordance with the terms of the Purchase Transaction as set out in Sections 5.2 to 5.4.
      • (c) Eurotoken will not process Buyer Orders submitted after the total aggregate amount of Grams underlying all Buyer Orders processed by it reaches the total quantity of Grams made available by the Seller for the Gram Token Sale.
      • (d) For avoidance of doubt, the submission of a Buyer Order does not constitute any legal obligation or responsibility on Eurotoken or the Seller to process and/or fulfil any part of such Buyer Order as a Purchase Transaction until the fulfillment or waiver of the Conditions Precedent on a Settlement Date in accordance with Section 5.2(c). Eurotoken shall have the right to void or cancel the whole or any part of an unfulfilled Buyer Order that is pending delivery and settlement under Section 5.4. Eurotoken’s determination on any matter relating to Buyer Orders shall be final and binding on both the Seller and Buyer.
    2. Purchase Transaction
      • (a) Upon the terms and subject to the conditions set out in these General Terms, the Seller agrees to sell, and the Buyer agrees to purchase, the entire legal and beneficial ownership of the Grams that are the subject of the Buyer’s Buyer Order(s) (the “Purchase Transaction”). The delivery and settlement of the Purchase Transaction and discharge of both Parties’ obligations thereunder shall be in accordance with Section 5.4.
      • (b) In consideration of the foregoing, the Buyer agrees to pay the Price for his Buyer Order(s) in either of the Funding Currencies. The Buyer and Seller agree and acknowledge that unless otherwise agreed between Eurotoken and the Seller in writing, USDT will be used as the settlement currency for all payment obligations between them for any matters in connection with the Purchase Transaction and the rate of exchange between the two Funding Currencies shall be fixed at 1:1.
      • (c) The Seller and Buyer each irrevocably authorise Eurotoken to act on their behalf to facilitate the delivery and settlement of Grams and Allocated funds under the Purchase Transaction in accordance with the procedures as described in Section 5.4(c). The Seller and Buyer further agree that Eurotoken shall not be obliged to facilitate such delivery and settlement unless it has established to its satisfaction that all of the following conditions precedent have been fulfilled (unless waived, whether in whole or in part, by Eurotoken) on each Settlement Date:
      • (i) all representations, warranties and undertakings of the Buyer under these General Terms (including, in particular, those set out in Section 8) continue to be true, accurate and not misleading in all material aspects;
      • (ii) all representations, warranties and undertakings of the Seller under these General Terms (including, in particular, those set out in Section 8) continue to be true, accurate and not misleading in all material aspects;
      • (iii) Eurotoken (as Escrow Agent) is in possession of sufficient Allocated funds in the Escrow Account attributable to the Buyer for the full discharge of the Buyer’s payment obligations to the Seller on such Settlement Date; and
      • (iv) Eurotoken has received sufficient Grams from the Seller within the timeframe contemplated under Section 5.4(b) sufficient to fully discharge the Seller’s obligation to deliver Grams to all Buyers on such Settlement Date, (collectively, the “Conditions Precedent”).
    3. Escrow settlements for Allocated funds
      • (a) The Buyer authorizes the following:
        • - Eurotoken to do all acts necessary to affect the transfer of Funds in the relevant Funding Currency constituting the Price from the Buyer’s ATAIX Account to the Escrow Account for his Buyer Order, and such Funds shall thereafter be deemed to be Allocated funds. - Where the Funding Currency is USD, the Buyer further authorizes Eurotoken to convert the Funds into the settlement currency, USDT, prior to effecting transfer of the Funds to the Escrow Account.
        • - Buyers shall be solely liable for any loss or shortfall of Allocated funds while held in the Escrow Account until such Allocated funds are disbursed by Eurotoken on Settlement Date unless in the case of Eurotoken’s gross negligence, fraud or willful misconduct.
      • (b) The Allocated funds will be deemed to be committed for the purchase of the Grams. Buyers may not request any withdrawal of Allocated funds. If for any reason the Purchase Transaction contemplated is subsequently terminated, cancelled or withdrawn for any reason (which Eurotoken may not be able to disclose to the Buyer), Eurotoken will promptly notify the Buyer and facilitate the return of any remaining undisbursed Allocated funds (in USDT) to the Buyer’s ATAIX Account. For avoidance of doubt, Eurotoken will facilitate the return of all Allocated funds (in USDT) to the Buyer’s ATAIX Account in the event that TON mainnet is not launched by 30 November 2019. Eurotoken may extend this deadline shall further clarifications from the Issuer regarding the delay and potential new dates for the launch of TON mainnet, or should it receive such a request from Buyer(s), however not longer than 1 March 2020.
      • (c) If Eurotoken cancels or voids any whole or part of a Buyer Order under Section 5.1(d) to which Allocated funds have been provided by the Buyer, it shall facilitate the return of the corresponding value of Allocated funds (in USDT) to the Buyer’s ATAIX Account, less any Administrative Payment that may apply under Section 4.3.
      • (d) Eurotoken shall maintain and operate the Escrow Account holding the Allocated funds in its capacity as Escrow Agent. All Allocated funds held in the Escrow Account pending disbursement to the Seller as contemplated in Section 5.4 shall remain the beneficial property of the Buyer, and shall not be subject to any Encumbrance from Eurotoken (as the Escrow Agent) or the Seller.
      • (e) Each Buyer hereby expressly and irrevocably authorizes Eurotoken as Escrow Agent to disburse the relevant portion of their Allocated funds to the Seller upon Eurotoken’s receipt of the Grams from the Seller in accordance with Section 5.4(c).
    4. Terms of delivery and settlement
      • (a) Grams sold by the Seller in the Gram Token Sale shall be delivered to Buyers in accordance with the terms and acknowledging the restrictions imposed by Token Issuer for Grams subscribed during the Token Issuer’s initial sale or after, if any and as might be applicable after the launch of the TON mainnet (projected to occur on 31 October 2019). The Seller shall deliver the agreed quantity of Grams after the Token Issuer releases the Grams, such that the Buyer shall receive 100% of the total quantity of Grams due to them on the Settlement Date (the Seller’s delivery schedule as described in this Section 5.4(a) shall be hereinafter referred to as the “Delivery Schedule”).
      • (b) The Seller shall transfer the relevant quantity of Grams to be delivered to all Buyers in accordance with the Delivery Schedule to Eurotoken’s designated Digital Asset Address within twenty four (24) hours after the release of Grams by the Token Issuer as described in Section 5.4(a).
      • (c) Not later than five (5) days after receipt of the Grams from the Seller under Section 5.4(b), and subject to the fulfillment or waiver of the Conditions Precedent on a Settlement Date under Section 5.2(c), on the Settlement Date:
      • (i) Eurotoken shall facilitate the discharge of the Seller’s and Buyer’s delivery and settlement obligations under the Purchase Transaction by allocating the relevant amount of Grams to each Buyer by updating the Digital Asset holdings in the Buyer’s ATAIX Account; and
      • (ii) Eurotoken shall promptly initiate the disbursement of the corresponding portion of Allocated funds in Escrow Account due to the Seller’s designated Digital Asset Address.
      • (ii) Eurotoken shall promptly initiate the disbursement of the corresponding portion of Allocated funds in Escrow Account due to the Seller’s designated Digital Asset Address.
      • (d) Upon Eurotoken’s completion of the steps in Sections 5.4(c)(i) and 5.4(c)(ii):
      • (i) the Grams shall be deemed to have been delivered by, and title and risk in the Grams shall be deemed to have passed from, the Seller to the Buyer; and
      • (ii) Allocated funds shall be deemed to have been delivered by, and the title and risk in the Allocated funds shall be deemed to have passed from the Buyer to the Seller.
      • e) Where there are insufficient Allocated funds in the Escrow Account for the full discharge of all Buyers’ outstanding payment obligations to the Seller:
      • (i) the Seller shall have no obligation under these General Terms to deliver Grams under Section 5.4(b);
      • (ii) Eurotoken shall have no authority to allocate any Grams under Section 5.4(c)(i), even if it has received Grams from the Seller; and
      • (iii) where applicable, Eurotoken shall facilitate the clawback of any Grams that were allocated to Buyers in error, and Buyers must return any such Grams withdrawn from their ATAIXATAIX Accounts, in accordance with the terms set out in Section 7.4. Eurotoken shall thereafter arrange for the return of such Grams to the Digital Wallet Address designated by the Seller.
  6. .Notices
    1. All communications between the Buyer and the Seller for any matters relating to the Gram Token Sale will be through Eurotoken. Buyers shall not contact the Seller directly. Buyer shall promptly notify Eurotoken if Buyer is contacted directly by the Seller or any other person (including another Buyer) requesting details relating to the Buyer’s participation in the Gram Token Sale, including their transactions thereunder.
    2. All Communications to the Buyer in connection with these General Terms or generally in relation to the Gram Token Sale may be sent by Eurotoken in any manner or medium whatsoever, including through such modes as permitted in the Terms of Use. Any such notice, demand or communication aforesaid by Eurotoken to a Buyer shall be deemed to have been duly served immediately upon transmission or sending, as the case may be.
    3. Unless otherwise notified by Eurotoken, any notices or other communication by a Buyer to Eurotoken in connection with these General Terms or any matters relating to the Gram Token Sale must be in English, in writing and sent by electronic mail to [email protected] Any such electronic mail by a Buyer to Eurotoken shall be deemed to have been duly served upon written acknowledgement by Eurotoken of the same or otherwise no later than three (3) days’ from the date of transmission.
  7. .Eurotoken’s regulation procedures
    1. Appointment of Eurotoken
      • (a) The Seller and the Buyer irrevocably appoint Eurotoken to act as their exclusive agent under and in connection with the delivery and settlement of the Purchase Transaction contemplated hereunder, including in respect of its acting as an Escrow Agent. Unless otherwise expressly provided in these General Terms, the Parties acknowledge that Eurotoken’s role (including its provision of the ATAIX Platform and the Services, and its role as an Escrow Agent) is strictly administrative in nature.
      • (b) Eurotoken will have only those duties, obligations and responsibilities expressly specified in these General Terms (and no others shall be implied).
      • (c) Eurotoken shall not be bound to account to any Buyer for any sum or the profit element of any sum received by it for its own account (whether by way of commission, fee or otherwise) or to exercise any discretion or take any action in respect of any Buyer’s Allocated funds.
    2. Additional Rights and Discretions of Eurotoken
      • The following rights and discretions are explicitly applicable in addition to other rights and discretions set either in these terms or those provided on ATAIX.com as concerns the general terms for its services:
      • (a) Eurotoken may rely on any representation, notice or document by the other Parties believed by Eurotoken to be genuine, correct and appropriately authorized.
      • (b) Eurotoken may assume (unless it has received notice to the contrary) that no default or any other analogous event under these General Terms or generally in relation to the Gram Token Sale has occurred.
      • (c) Eurotoken may act through its personnel and agents or may delegate some of its functions or obligations to other third parties. Notwithstanding the foregoing, Eurotoken shall not delegate its maintenance and operation of the Escrow Account as the Escrow Agent and the handling of Grams or Allocated funds to any third party.
      • (d) Eurotoken may (but shall not be obliged to) take such action in the exercise of any of its powers and duties under these General Terms as it considers in its discretion to be appropriate.
      • (e) Notwithstanding any other provision of any document to the contrary, Eurotoken is not obliged to do or omit to do anything if it would or might, in its reasonable opinion, constitute a breach of any law, regulation, its obligations, any fiduciary duty or duty of confidentiality.
    3. Independent power
      • The Buyer shall not have any independent power to enforce these General Terms (or the corresponding documentation relating thereto) or to exercise any rights, power, authority or discretion arising in connection therewith, except through Eurotoken. Buyers agree that Eurotoken may conduct any enforcement or recourse actions on their behalf in its sole discretion.
    4. Clawbacks and refunds
      • If Eurotoken makes, initiates or facilitates delivery, return or payment of Grams or Allocated funds to any Party in error (whether as a result of its own acts or omissions or otherwise), then such Party that received such delivery, return or payment shall transfer the same to Eurotoken on demand.
    5. Terms of part delivery
      • If by a Settlement Date, the Seller only makes a partial delivery of Grams of a quantity that is insufficient to discharge fully its delivery obligations to all Buyers, Eurotoken shall have the absolute discretion (as provided under Section 5.2(c) and 5.3) to conduct settlement and delivery by disbursing the Grams received on a pro rata basis to the Buyers in accordance to the relative sizes of their Buyer Order on the Settlement Date in partial discharge of the Seller’s delivery obligations. For avoidance of doubt, as part of its discretion Eurotoken reserves the right to reject any partial delivery as a total failure of the Seller to perform its delivery obligations on a Settlement Date should it determine that the quantity of Grams delivered is too insubstantial to be meaningfully distributed to Buyers.
    6. Calculations, taxation and rates
      1. Accordingly, any amounts due and owing under these General Terms, or any litigation or arbitration proceeding arising out of or in connection therewith, the entries made in the accounts, ledgers or books (in any medium or form) maintained by Eurotoken are prima facie evidence of the matters to which they relate. Any determination by Eurotoken of a rate or amount under these General Terms, in the absence of manifest error, shall be conclusive evidence of the matters to which it relates.
      2. If any Party owes an amount to Eurotoken (whether in its capacity as Escrow Agent or otherwise) under these General Terms or generally in relation to the Gram Token Sale, Eurotoken has the right without the need for further notice or reference to any such Party, to deduct from any Allocated funds held in the Escrow Account that are from or due to such Party, any charges and other amounts (including the Administration Fees) due to Eurotoken under these General Terms or such other agreement relating to the Gram Token Sale to which the Party and Eurotoken is a party to and apply the amount deducted in or towards satisfaction of the amount owed.
      3. Parties are solely responsible for understanding and complying with their own tax obligations (including the payment of all taxes imposed by relevant authorities on any payments or interests received) in all jurisdictions in which those obligations arise and relating to the transactions contemplated hereunder.
  8. .Representations, warranties and undertakings
    1. Each of the Seller and the Buyer represents, warrants and undertakes on the date these General Terms is entered into and on each day these General Terms continue to be binding that:
      • (a) it has the legal right, legal power and capacity to enter into (and, if necessary, has taken all necessary action to authorize), exercise its rights and perform and comply with its obligations under these General Terms;
      • (b) these General Terms constitute, or will when executed constitute, legal, valid and binding obligations in accordance with its terms;
      • (c) if it is not a natural person, the execution and delivery of these General Terms and the transactions contemplated hereby have been duly authorized by all necessary corporate or other entity action;
      • (d) it enters into the General Terms as principal and not as an agent on behalf of any other party;
      • (e) all actions, conditions and things required to be taken, fulfilled and done have been so taken fulfilled and done, including the obtaining of any necessary exemptions, consents or license or governmental, regulatory approvals, or the making of any filing or registration in order to enable it to lawfully enter into, exercise its rights and perform and comply with the obligations under these General Terms;
      • (f) it has not been declared insolvent (bankrupt), and does not meet the criteria of insolvency or such other criteria established for the filing of a bankruptcy petition against it by any third party under the applicable law;
      • (g) its entry into, exercise of its rights and/or performance of or compliance with its obligations under this General Terms, do not and will not violate, or exceed any power or restriction granted or imposed by any law, regulation, constitutional documents, authorization, any agreement or instrument binding upon it or any of its assets or constitute a default or termination event (however described) under any agreement or instrument, authorization directive or order whether or not having the force of law to which it is subject; and
      • (h) any representation, information or statements made by it in these General Terms is true and correct to the best of their knowledge in all material aspects.
    2. The Seller additionally represents, warrants, and undertakes on the date these General Terms is entered into and on each day these General Terms continue to be binding that:
      • the Seller on each Settlement Date will be the sole legal and beneficial owner of the Grams delivered;
      • (b) there is no, and on each Settlement Date will not be any, Encumbrance affecting any of such Grams, nor any agreement to create any such Encumbrance; and
      • (c) there are no, and on each Settlement Date there will not be any, agreements, arrangements, judgments or any other restrictions of any kind that prohibit or restrict its ability to enter into and to perform its obligations under these General Terms.
    3. Each Buyer additionally represents, warrants, and undertakes on the date these General Terms is entered into and on each day these General Terms continue to be binding that:
      • (a) he satisfies, and will continue to satisfy the Eligibility Standard;
      • (b) prior to the submission of any Buyer Order, he had the opportunity to review these General Terms including the risk disclosures set out within, and fully understands the contents thereof and the legal and financial implications arising from participating in the Gram Token Sale;
      • (c) all Allocated funds are his own funds or assets, and are not from any financing or otherwise subject to any Encumbrance; and
      • (d) his participation in the Gram Token Sale is on his own initiative and he is solely responsible for compliance with local laws.
  9. .Limitation of liability
    1. Notwithstanding anything contained herein in these General Terms, the following are specifically acknowledged and agreed to by Buyers:
      • (a) You acknowledge that Eurotoken shall not be responsible or liable for the accuracy of the information, representations, warranties or undertakings provided by the Seller that are relayed through the ATAIX Platform, the Services or otherwise through Eurotoken. However, Eurotoken may from time to time, but without any obligation to do so, update or amend the information provided by, or relating to, the Seller.
      • (b) You shall not rely on any information that is relayed through the ATAIX Platform, the Services or otherwise through Eurotoken in committing Funds to, or participating in, the Gram Token Sale. You shall undertake your own research, analysis, and assessment to form your own opinion, and obtain specific professional advice as you consider necessary or appropriate before entering into, or accepting, these General Terms and/or making any Buyer Order.
      • (c) You shall be responsible for keeping informed of any developments relating to the TON mainnet project, the financial condition of the Token Issuer, and all other external circumstances bearing upon the risk of non-delivery or delayed delivery of the Grams.
    2. Eurotoken gives no representation, warranty or undertaking to any Buyer as to the creditworthiness of the Seller, the viability of the TON mainnet or possible utility of Grams, and is not personally liable to the Buyer in the event the Seller is in breach of any of its representations, warranties or obligations under the General Terms, including its failure to deliver the Grams. Buyers waive all their rights and shall have no claims against Eurotoken if they do not receive the Grams expected to be delivered hereunder.
  10. .Buyers’ ATAIX Account
    1. The Buyer may not close their ATAIX Account until he has received all the Grams due to him under the Gram Token Sale, or until the Gram Token Sale has been terminated or cancelled for any reason. Any closure of the Buyer’s ATAIX Account may result in his loss to claim any Grams yet to be delivered.
    2. Nothing in these General Terms will prejudice Eurotoken’s rights as the provider of the ATAIX Platform or the Services under the Terms of Use including its rights to terminate or suspend ATAIX Accounts, and accordingly any such rights extend to any Grams to be delivered to a Buyer’s ATAIX Account under the Gram Token Sale.
  11. .Indemnification
    1. To the maximum extent permitted by law, Eurotoken hereby expressly excludes all conditions, warranties and other terms that might otherwise be implied by law into these General Terms.
    2. Eurotoken (including where it acts in the capacity as Escrow Agent), and all of its related companies, directors, officers, agents, shareholders, partners, and employees (collectively the "Eurotoken Parties" and each a "Eurotoken Party"), shall not be liable to any person, including Buyers, for any direct, indirect, punitive, incidental, special, consequential damages, losses, expenses, liabilities under any causes of action or any damages whatsoever, including damages for loss of use or data, loss of opportunity, loss of goodwill, loss of profits (including revenue or anticipated profits) or losses to third parties, arising out of or in any way connected with:
      • (a) any failure by the Buyer to receive the Grams expected or recover any part of their Allocated funds as a result of the Seller’s default or failure to comply with its obligations;
      • (b) any action taken by such person under or in connection with its participation in the Gram Token Sale and, for the avoidance of doubt, no Buyer may take any proceedings against any officer, employee or agent of Eurotoken in respect of any claim it might have against Eurotoken;
      • (c) the adequacy, accuracy or completeness of any information (whether oral or written) supplied by or through the Site, the ATAIX Platform, Eurotoken, or any other person in or in connection with the Gram Token Sale or the transactions contemplated thereunder;
      • (d) any losses to any person or any liability arising as a result of taking or refraining from taking any action in relation to these General Terms or any other agreement in connection with the Gram Token Sale;
      • (e) the exercise of, or the failure to exercise any judgment, discretion or power given to it by or in connection with the General Terms or generally in respect of the Gram Token Sale;
      • (f) any loss or damage (whether direct or indirect), howsoever caused, as a result of any cyber attacks, computer viruses, trojan horses, worms or similar items or processes arising from the use of the ATAIX Platform, the Site and/or the Services (including escrow services under these General Terms);
      • (g) any failure to process a Buyer Order;
      • (h) the Buyer’s participation in the Gram Token Sale;
      • (i) the Seller’s failure to perform its obligations under or in connection with these General Terms;
      • (j) the maintenance, provision and operating of the Site, the ATAIX Platform and the Services by Eurotoken during the Sale Term
      • (k) any delay (or any related consequence) in delivering or transferring Grams, Allocated funds or any other Digital Assets or Legal Tender in connection with these General Terms, to or from a Party if such Eurotoken Party has taken all necessary steps as soon as reasonably practicable to comply with its obligations; or
      • (l) any negligence, default or fraud by any third party service provider, debt collector or law firm in the provision of its respective services.
  12. .Confidentiality
    1. The Seller and each Buyer must maintain strict confidentiality and secrecy of all information of a proprietary or confidential nature that it receives, through the ATAIX Platform or otherwise from Eurotoken, pursuant to or in connection with any matter relating to the Gram Token Sale (including information regarding the Token Issuer, the TON mainnet project, the Seller, Eurotoken or any Buyer).
    2. The obligation in Section 12.1 shall not apply to:
      • (a) any information which is required to be disclosed pursuant to any applicable legal requirements or legal process issued by any court or any competent government authority or rules or regulations of any relevant regulatory body but only in relation to and to the extent of such information necessary and only to such persons as required by court, law, rules or regulations;
      • (b) any information which is or becomes generally known to the public, other than by reason of a breach of confidentiality obligations; and (c) any information which the Party derives on its own, without the use of any confidential information described in Section 12.1.
    3. The Seller and Buyer shall observe the above-mentioned restrictions and shall take all reasonable steps to minimize the risk of disclosure of confidential information, by ensuring that only its employees, directors, consultants and advisers (if any) whose duties will require them to possess any of such information shall have access thereto, and that they shall be instructed to treat the same as confidential.
    4. The obligations herein shall endure without limit in point of time except and until any confidential information enters the public domain as set out above (otherwise than as a result of a breach of this Section 12 or any other confidentiality obligations).
  13. .Force Majeure
    1. Each Party agreeds that it shall not be in breach of these General Terms, nor be liable for any failure or delay in the performance of any other obligations under these General Terms, arising from or attributable to acts, events, omissions, accidents beyond its reasonable control, including any of the following:
      • (a) acts of God, including fire, flood, earthquake, hurricanes, or other natural disaster;
      • (b) war, threat of or preparation for war, armed conflict, sanctions, embargo, diplomatic relations breaking off or similar actions;
      • (c) any labor disputes, including strikes, industrial action or lockouts;
      • (d) any changes in law or regulations preventing Eurotoken from performing its obligations under this General Terms;
      • (e) fire, explosion or accidental damage;
      • (f) acts of any government or authority;
      • (g) nuclear, chemical or biological contamination or sonic boom;
      • (h) terrorist attack, civil war, civil commotions or riots;
      • (i) interruption or failure of utility service, including electric power, gas or water;
      • (j) collapse of building structures, failure of plant machinery, machinery, computers, computer systems, or vehicles; and/or
      • (k) any interruption to the ATAIX Platform or Services outside the reasonable control of Eurotoken. If any such circumstances continues for a period in excess of thirty (30) days, Eurotoken shall have the right to terminate these General Terms by giving the Buyer and the Seller seven (7) days’ notice prior to such termination without affecting any rights accruing prior to such termination.
  14. .Default and termination
    1. In the event Eurotoken fails to make, initiate or facilitate the onward delivery of the Allocated funds to the Seller’s designated Digital Asset Address within the time specified under Section 5.4(c), Eurotoken shall:
      • (a) make arrangements to promptly deliver any outstanding Allocated funds overdue to the Seller under Section 5.4(c); and
      • (b) pay to the Seller a penalty equal to 3% of the value of the Allocated funds that was due but not paid to the Seller on such date.
    2. The Seller’s failure to make, initiate or facilitate the transfer of the Grams to Eurotoken within the time specified under Section 5.4(b) shall be deemed to be a failure of the Seller to deliver the Grams to the Buyer by the Settlement Date and therefore an event of default by the Seller under Section
    3. In the event that the Seller fails to deliver the requisite quantity of Grams to fully discharge its obligation to all Buyers under Section 5.4 by the Settlement Date, this shall be considered an event of default by the Seller and Eurotoken shall have the discretion to take any action as it deems fit, including (without limitation):
      • (a) terminating these General Terms henceforth (on behalf of Buyers) and facilitate the return of any remaining undisbursed Allocated funds to the Buyers’ ATAIX Accounts; and/or
      • (b) agreeing (on behalf of the Buyers) to any delayed delivery by the Seller of any outstanding Grams due on such Settlement Date.
    4. Parties agreed that Eurotoken shall have the right at any time to immediately suspend and/or terminate the whole or part of these General Terms (including any outstanding obligations of any Party or Purchase Transactions hereunder) if it becomes aware that the Seller or such Buyer or any of their related companies, directors, officers, agents, shareholders, partners, and employees is or has been:
      • (a) subject to actual or potential proceedings or a formal investigation relating to an offence or illegal misconduct under any law in any jurisdiction;
      • (b) a party to actual or potential civil proceedings relating to potential fraud, misrepresentation or dishonesty on its part in any jurisdiction, provided that Eurotoken has provided the Seller with documentary evidence forming the basis of such awareness before exercising its rights under this Section.
    5. Buyers hereby irrevocably authorize Eurotoken to undertake any action that it deems fit (in its sole and absolute. discretion) in order to preserve the Buyers’ rights and interests under these General Terms on their behalf.
  15. .Relationship
    • Other than as expressly provided in these General Terms, nothing herein shall be construed to:
      • (a) create any agency, partnership, joint venture or employment relationship between the Parties;
      • (b) in no way constitute Eurotoken as a trustee or fiduciary of any person; or
      • (c) confer authority on Eurotoken to enter into agreements of any kind on behalf of another Party.
  16. .Allocation
    • Other than as expressly agreed by the other Parties in writing, any rights or obligations of the Seller, the Buyer or Eurotoken hereunder may not be novated, transferred or assigned. Subject to reasonable notice to the other Parties, Eurotoken may transfer its rights or obligations hereunder without the need for consent from any other Party by providing three (3) days’ notice to the other Parties.
  17. .Severability
    • If any one or more provisions of these General Terms or part thereof is rendered void, illegal or unenforceable by any applicable law, it shall be rendered void, illegal or unenforceable to that extent and no further. Such provision will not affect or impair the legality, validity, or enforceability in that jurisdiction of any other provision of these General Terms or the legality, validity, or enforceability under the applicable law of any other jurisdiction of such provision or any other provision in these General Terms. Subject to Section 20.1, the Parties shall use all reasonable endeavors to replace such a provision with a valid and enforceable substitute provision that carries out, as closely as possible, the intentions of the Parties under these General Terms.
  18. .Additional covenants of the Parties
    • Save for the Seller, the Buyer, Eurotoken and the Eurotoken Parties, no other person will have any right whatsoever under the applicable law(s) to enforce these Terms or Sale or have the benefit of any of its terms.
  19. .Entire of these General Terms
    • Hereby Parties agreed that these General Terms and the documents referred to or incorporated in it constitute the entire agreement between all the Parties relating to the subject matter of these General Terms and supersedes and extinguishes any prior drafts, agreements, undertakings, representations, warranties and arrangements of any nature whatsoever, whether or not in writing, between the Parties in relation to the subject matter of these General Terms.
  20. .Modifications
    1. Buyers hereby jointly and severally irrevocably appoint Eurotoken as their representative and authorize it to agree on such modified or amended terms with the Seller, without having to obtain the Buyers’ prior consent, to restructure any remaining obligations under these General Terms and to amend, at any time and as often as it deems necessary, these General Terms in any manner that Eurotoken deems appropriate in order to facilitate the transactions contemplated hereunder. Buyers acknowledge and agree that any amendments to these General Terms by Eurotoken shall be done in accordance with what Eurotoken deems to be in the best interests of the Buyers and to be reasonable and any such Buyers shall thereafter be bound by the revised terms.
    2. Any amendments to these General Terms shall only be effective upon written acknowledgement and acceptance by Eurotoken (including its acceptance on behalf of Buyers) and the Seller.
  21. .Governing law and disputes
    1. Governing law. The provisions of these General Terms shall in all respects be construed according to, and the rights and liabilities of the Parties hereto shall in all respects be governed by the substantive laws of Estonia.
    2. Disputes. All disputes, controversies or claims arising out of or relating to these General Terms, including any question regarding the existence, validity or termination of these General Terms, shall be referred to and finally resolved by arbitration administered by the The Court of Arbitration of the Estonian Chamber of Commerce and Industry in accordance with the Rules of the Court of Arbitration of the Estonian Chamber of Commerce and Industry (the “Rules”), which rules are deemed to be incorporated by reference in this Section. Part II of the International Arbitration Act (Cap. 143A), as amended from time to time, will apply to any arbitration proceedings commenced under this Section. The seat of the arbitration will be Estonia. The Tribunal will consist of one arbitrator. The language of the arbitration will be English. If any action at law or in equity (including arbitration) is necessary to enforce or interpret the terms of these General Terms, the prevailing party will be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. Any dispute will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. The arbitrator will have exclusive authority to make all procedural and substantive decisions regarding any dispute and to grant any remedy that would otherwise be available in court. However, the arbitrator does not have the authority to conduct a class arbitration or a representative action, which is prohibited by these General Terms. For any arbitration, the Party filing the claim will pay the filing fee and the Parties will split the remaining arbitration fees and costs. Judgment upon any arbitration award may be entered and enforced in any court of competent jurisdiction.