Purchase and Redemption Terms and Conditions

Definitions

Veritaseum Assets LLC: A for-profit company that develops decentralized and distributed ledger transaction technology, including the Veritaseum Platform or VeADIR (Veritaseum Autonomous Distributed Interactive Research). Veritaseum Assets LLC also provides advisory and consulting services relating to the Veritaseum Platform.

 

Veritaseum, VeADIR or Veritaseum Platform: A system that allows for the peer-to-peer (P2P) trading of arbitrary value.

Purchaser:  Initial party that purchases tokens or any services, independent of or associated with tokens, offered by Veritaseum Assets LLC.

Veritas, VERI or Ve (Veritaseum Prepaid Tokens): A prepaid software token redeemable to Veritaseum Assets LLC by the Purchaser or bearer of the Veritaseum Prepaid Token for various products and services offered by Veritaseum Assets LLC, or to access or use various features or aspects of the Veritaseum Platform or other Veritaseum Assets LLC software products. These currently include Veritaseum Assets LLC’s advisory and research services. The Veritaseum Prepaid Tokens are redeemable to Veritaseum Assets LLC in bearer form.

VeGLD, VeSLV, VeSTB or other Veritaseum Assets Asset Backed Tokens (Veritaseum Asset Backed Tokens):  A software token, redeemable to Veritaseum Assets LLC, backed by valued assets which are held in bailment by Veritaseum Assets LLC according to the bailment services offered by Veritaseum Assets LLC and purchased by the Purchaser of the Veritaseum Asset Backed Token. As per the bailment services, Purchaser and Veritaseum Assets LLC agree that Veritaseum Assets LLC will have possession of the asset identified by the Veritaseum Asset Backed Token, as bailee, at a storage facility at a location of Veritaseum Assets LLC’s choosing, for the sole purpose of storing said asset on behalf of Purchaser, and will relinquish possession of the asset to the Purchaser or bearer of the Veritaseum Asset Backed Token upon redemption of the token by the Purchaser or bearer of the token after completing and passing a Anti-Money Laundering (AML) and Know Your Customer (KYC) check and paying any requisite redemption fees. Each Veritaseum Asset Backed Token upon being purchased by Purchaser is “Negotiable” and the assets which back, are covered by, the purchased Veritaseum Asset Backed Token are to be “Delivered to the Bearer” of the Veritaseum Asset Backed Token upon redemption.

Smart Contract: Computer protocols or code that automate the facilitation, verification, or enforcement of a contract, which may obviate the need for a separate negotiated writing or agreement.

Introduction

The following Terms and Conditions (“Terms and Conditions”) govern the initial sale of the Veritaseum Asset Backed Tokens to purchasers (“Purchasers” collectively, and “Purchaser” individually).

As described herein, creation and use of Smart Contracts for value within the Veritaseum Platform requires payment. As do the various advisory and consulting services associated with such use. This payment exists in the form of a cryptographic software token and key to gain entry into the contracting system. Without requiring payment for operations, the system would not have the economic incentive nor the resources to operate, would potentially be vulnerable to attack, would not be viable, and would likely grind to a halt. The payment, in the form of fees for creating and administering Smart Contract transactions, is made to Veritaseum Assets LLC.

IMPORTANT

By participating in the purchase of Veritaseum Asset Backed Tokens , Purchaser expressly acknowledges and represents that Purchaser has carefully reviewed the Terms and Conditions, as well as the Veritaseum Product and Service Agreement (“Agreement”) and fully understands the risks, costs, and benefits of purchasing Veritaseum Asset Backed Tokens, and agree to be bound by these Terms and Conditions as well as the terms and conditions as set forth in the Agreement. As set forth further herein, Purchaser further represents and warrants that, to the extent permitted by law, Purchaser is authorized to purchase Veritaseum Asset Backed Tokens in Purchaser’s relevant jurisdiction, is of a legal age to be bound by these Terms and Conditions and the Agreement, and will not hold Veritaseum Assets LLC, its parent, affiliates, officers, directors, agents, joint ventures, employees, and suppliers, now or in the future (collectively the “Veritaseum Parties”), liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to the sale of the Veritaseum Asset Backed Tokens.

WARNING: DO NOT PURCHASE VERITASEUM ASSET BACKED TOKENS IF YOU ARE NOT VERSED IN DEALING WITH CRYPTOGRAPHIC SOFTWARE TOKENS, BLOCKCHAIN-BASED SOFTWARE SYSTEMS AND DERIVATIVE TECHNOLOGIES OR PRODUCTS, OR ARE NOT FAMILIAR WITH THE PRODUCTS OR SERVICES OFFERED BY Veritaseum Assets LLC

Because Veritaseum Asset Backed Tokens are issued as cryptographic software tokens, and are redeemable by the bearer, purchases of Veritaseum Asset Backed Tokens should be undertaken only by individuals, entities, or companies that have significant experience with, and understanding of, the usage and intricacies of such cryptographic software tokens, blockchain-based software systems like Bitcoin (BTC) or Ethereum (ETH), and the products and services offered by Veritaseum Assets LLC

While Veritaseum Assets LLC will provide general guidelines for user usage and storage of Veritaseum Asset Backed Tokens, Purchasers should have a functional understanding of storage and transmission mechanisms associated with other cryptographic software tokens. While Veritaseum Assets LLC may be available to assist Purchasers of Veritaseum Asset Backed Tokens during and after the sale, Veritaseum Assets LLC will not be responsible for lost BTC or Veritaseum Asset Backed Tokens resulting from actions taken by, or omitted by Purchasers. Note, in particular, that Purchasers should take great care to write down their wallet password and not lose it so as to be sure that they will be able to access their Veritaseum Asset Backed Tokens when it becomes available after the Sale.

WARNING: THE PURCHASE OF VERITASEUM ASSET BACKED TOKENS HAS A NUMBER OF RISKS

The purchase of Veritaseum Asset Backed Tokens carries with it a number of risks. Prior to purchasing Veritaseum Asset Backed Tokens, Purchaser should carefully consider the risks identified herein and, to the extent necessary, consult an appropriate lawyer, accountant, or tax professional. If any of the following risks are unacceptable, then Purchaser should not complete the purchase of Veritaseum Asset Backed Tokens. By purchasing Veritaseum Asset Backed Tokens, and to the extent permitted by law, Purchaser is agreeing not to hold any of the Veritaseum Parties liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of Veritaseum Asset Backed Tokens, including losses associated with the risks set forth below.

Overview of the Veritaseum Asset Backed Tokens Sale

The Veritaseum Platform requires, for proper operation, and comprehensive utilization, transactional, operational, and leverage fees, access to, and use of the platform, as well as a modicum of knowledge in financial engineering.

In particular, in order for proper operation and delivery of value, the Veritaseum Platform requires fees for its services. It also requires that its customers have a material grasp of finance, investment, derivative structures, trading, and cryptographic, token-based systems.

Obligation to Determine If Purchaser Can Purchase Veritaseum Asset Backed Tokens in Purchaser’s Jurisdiction

It is the responsibility of each potential Purchaser of Veritaseum Asset Backed Tokens to determine if the Purchaser can legally purchase Veritaseum Asset Backed Tokens from Veritaseum Assets LLC in the Purchaser’s jurisdiction. Further, each Purchaser of Veritaseum Asset Backed Tokens must pass Anti-Money Laundering (AML) and Know Your Customer (KYC) screening to purchase Veritaseum Asset Backed Tokens.

Acceptance of Terms and Conditions of the Veritas Sale

By purchasing or possessing Veritaseum Asset Backed Tokens, the Purchaser or bearer: (i) consents and agrees to the Terms and Conditions and the terms and conditions of the  Agreement; (ii) represents and warrants that the Purchaser is legally permitted to purchase Veritaseum Asset Backed Tokens in the Purchaser’s jurisdiction and is legally permitted to receive products of US origin; (iii) represents and warrants that the Purchaser is of a sufficient age to legally purchase Veritas or has received permission from a legal guardian who has reviewed and agreed to these Terms; (iv) represents and warrants that the Purchaser will take sole responsibility for any restrictions and risks associated with the purchase of Veritaseum Asset Backed Tokens as set forth herein; (v) represents and warrants that Purchaser is not purchasing Veritaseum Asset Backed Tokens as an investment for speculative purposes, nor to fund an enterprise, or to rely on the efforts of someone other than the Purchaser to see a profit; and (vi) represents and warrants that the Purchaser has an understanding of the usage and intricacies of cryptographic software tokens, like BTC, ETH and blockchain-based software systems.

Purchaser’s Loss of the Purchase Password Will Cause the Loss of the Purchased Veritaseum Asset Backed Tokens

As part of the purchase process, and in order to purchase Veritaseum Asset Backed Tokens, each Purchaser will need to obtain an electronic wallet (i.e. Ethereum Wallet). Part of this process requires (or may require) providing a password.

Purchaser must keep the Purchase Password safe and not share it in any way or with anybody. The Purchase Password is essential for accessing the Purchaser’s Veritaseum Asset Backed Tokens. Purchaser’s loss of the Purchase Password may cause the loss of the purchased Veritaseum Asset Backed Tokens. Unauthorized access by any party to the Purchase Password, may enable that unauthorized party to access the purchased Veritaseum Asset Backed Tokens and the Veritaseum Asset Backed Tokens may be lost.

By purchasing Veritaseum Asset Backed Tokens, and to the extent permitted by applicable law, the Purchaser agrees not to hold any of the Veritaseum Parties liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to, Purchaser’s failure to properly secure and keep private the Purchase Password.

Purchaser’s Loss of the Purchase Wallet or Failure to Backup the Purchase Wallet Will Cause the Loss of the Purchased Veritaseum Asset Backed Tokens

The Purchase Account will be used to create and access a wallet file containing at least one unique address and private key, which will store the purchased Veritaseum Asset Backed Tokens (the “Purchase Wallet”).

Upon creating the Electronic wallet, the Purchaser agrees to create a backup of the Purchase Wallet to the Purchaser’s computer’s file system, and to store the applicable wallet file and backup copies of the wallet in a secure location on that computer as well as on some other device.

Purchaser must keep the Purchase Wallet and any wallet backup files safe and not share them in any way or with anybody. Purchaser must make copies of the Purchase Wallet and securely store backup copies of the Purchase wallet in multiple locations. The Purchase Wallet is essential for accessing the Purchaser’s Veritaseum Asset Backed Tokens. Purchaser’s loss of the Purchase Wallet or any wallet backup files will cause the loss of the purchased Veritaseum Asset Backed Tokens. Unauthorized access by any party to a Purchaser’s Purchase Wallet, will enable that unauthorized party to access the purchased Veritas and the Veritas will be lost.

By purchasing Veritaseum Asset Backed Tokens, and to the extent permitted by applicable law, the Purchaser agrees not to hold any of the Veritaseum Parties liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to, Purchaser’s failure to properly backup and secure the Purchase Wallet and any wallet backup files.

Veritaseum Asset Backed Tokens Will Only Be Available For Sale on the Veritaseum Website

Veritaseum Assets LLC will only sell initial Veritaseum Asset Backed Tokens through its website https://veritaseum.com/. To the extent that any third-party website or service offers initial Veritaseum Asset Backed Tokens for sale, such third-party websites or services are not sanctioned by Veritaseum Assets LLC, or its parents and affiliates and have no relationship in any way with the Veritaseum Parties. As a result, Veritaseum Assets LLC prohibits the use of these third-party websites or services for the purchase of initial Veritaseum Asset Backed Tokens.  This provision does not restrict the Purchaser or subsequent token holder from selling or otherwise transferring or assigning its interest in the Veritaseum Asset Backed Tokens at any time to any party for any reason after the initial purchase of tokens.

By purchasing Veritaseum Asset Backed Tokens, and to the extent permitted by applicable law, the Purchaser agrees not hold any of the Veritaseum Parties liable for losses incurred by any person, entity, corporation, or group individuals or groups who uses a third-party service to purchase Veritas.

Risk of Losing Access to Veritas Due to Loss of a Wallet File or Password

As noted above, Veritaseum Asset Backed Tokens will be stored in an Electronic wallet, which can only be accessed with the Purchase Password selected by the Purchaser. If a Purchaser of Veritaseum Asset Backed Tokens does not maintain an accurate record of the Purchase Password or otherwise deletes or loses access to the Purchase Wallet or any wallet backup files, this will lead to the loss of Veritaseum Asset Backed Tokens.

As a result, Purchasers must safely store their Purchase Password and any wallet backup file each in one or more backup locations that are well separated from the primary location. Additionally, the Purchase Password and any wallet backup file should never be stored unencrypted on any third party’s properties by the end user.

In order to access one’s Veritaseum Asset Backed Tokens, both the Purchase Password and access to the Purchase Wallet and any wallet backup files are required; loss of any, or leakage/theft of the Purchase Password and any wallet backup file, will lead to the loss of a Purchaser’s Veritas.

Risk of Unauthorized Access to a Downloaded Wallet or Backup File

Any third party that gains access to the Purchase Password will be able to access the Purchase Account and/or the Purchase Wallet or download a wallet backup file. In addition, any third party that is able to access any wallet backup file can potentially access the Purchase Wallet by deciphering or cracking the Purchase Password. To guard against any improper access to the wallet, the Purchaser should: (i) select a highly secure Purchase Password for the Purchase Account; and (ii) promptly encrypt any wallet backup files, as well as delete any unencrypted wallet backup files after receipt, as expressly required by these Terms.

Purchaser must take care not to respond to any inquiry regarding their purchase of Veritas, including but not limited to, email requests purportedly coming from the veritaseum.com or similar looking domain.

Risk of Regulatory Action in One or More Jurisdictions

Cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies around the globe. The Veritaseum Platform and Veritaseum Asset Backed Tokens could be impacted by one or more regulatory inquiries or regulatory action, which could impede or limit the ability of Veritaseum Assets LLC to continue to develop the Veritaseum Platform.

Risk of Theft

Hackers or other groups or organizations may attempt to steal the crypt or other revenue from the Veritaseum Asset Backed Tokens Sale, thus potentially impacting the ability of Veritaseum Assets LLC to develop the Veritaseum Platform or otherwise operate. To account for this risk, Veritaseum Assets LLC has and will continue to implement comprehensive security precautions to safeguard the Veritaseum Asset Backed Tokens.

Risk of Weaknesses or Exploitable Breakthroughs in the Field of Cryptography

Cryptography is an art, not a science. And the state of the art can and will advance over time. Advances in code cracking, or technical advances such as the development of quantum computers, could present risks to cryptocurrencies and the Veritaseum Platform, which could result in the theft or loss of Veritaseum Asset Backed Tokens. To the extent possible, Veritaseum Assets LLC intends to update the protocol underlying the Veritaseum Platform to account for any advances in cryptography and to incorporate additional security measures but cannot predict the future of cryptography or the success of any future security updates.

Risk of Mining Attacks

As with any cryptocurrency, the blockchain used to create, transfer, or redeem Veritaseum Asset Backed Tokens, and used by the Veritaseum Platform (currently the Bitcoin and Ethereum blockchains) are susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attacks present a risk to the Veritaseum Platform, expected proper execution, and sequencing of BTC, ETH or Veritas transactions, and expected proper execution and sequencing of contract computations. Despite the efforts of Veritaseum Assets LLC, known or novel mining attacks may be successful.

All Purchases of Veritas Are Non-Refundable

ALL PURCHASES OF VERITASEUM ASSET BACKED TOKENS ARE FINAL. PURCHASES OF VERITASEUM ASSET BACKED TOKENS ARE NON-REFUNDABLE. HOWEVER, Veritaseum Assets LLC WILL REDEEM THE ASSETS BACKING THE VERITASEUM ASSET BACKED TOKENS PURCHASED BY THE PURCHASER UPON REQUEST BY THE PURCHASER ACCORDING TO THE AGREEMENT AND THE TERMS AND CONDITIONS AS SET FORTH HEREIN. BY PURCHASING VERITASEUM ASSET BACKED TOKENS, THE PURCHASER ACKNOWLEDGES THAT NEITHER Veritaseum Assets LLC NOR ANY OTHER OF THE VERITASEUM PARTIES ARE REQUIRED TO PROVIDE A REFUND FOR ANY REASON, AND THAT THE PURCHASER WILL NOT RECEIVE MONEY OR OTHER COMPENSATION FOR ANY VERITASEUM ASSET BACKED TOKENS THAT ARE NOT USED OR REMAINS UNUSED.

Due to different regulatory dictates and the inability of citizens of certain countries to perform certain transactions, it may be unlawful to purchase, transfer, possess, or use Veritas in some jurisdictions. By purchasing, transferring, possessing, or using Veritaseum Asset Backed Tokens, the Purchaser warrants that Purchaser’s purchase, transfer, possession, or use of Veritaseum Asset Backed Token complies with all laws and regulations as applied to the Purchaser, and to the extent permitted by law, the Purchaser agrees not hold any of the Veritaseum Parties liable for any of Purchaser’s acts that violate any applicable laws or regulations.

Title of Chattel identified by Token

Veritaseum Assets LLC agrees that all assets (property) identified by a Veritaseum Asset Backed Token once purchased is owned by and is the exclusive property of the Purchaser or bearer of the Veritaseum Asset Backed Token.  As between the bearer of the Veritaseum Asset Backed Token and Veritaseum Assets LLC, the bearer shall retain title to the property backing the Veritaseum Asset Backed Token identified by the token at all times during the term of this Agreement. This provision does not restrict the bearer of the Veritaseum Asset Backed Token from selling or otherwise transferring or assigning its interest in the Token and the property backing the token at any time to any party for any reason.

Location, use and maintenance of the Asset identified by the Veritaseum Asset Backed Token

Veritaseum Assets LLC will have possession of the asset identified by the Veritaseum Asset Backed Token, as bailee, at a storage facility at a location of Veritaseum Assets LLC’s choosing, for the sole purpose of storing said asset on behalf of Purchaser.

Veritaseum Assets LLC shall not remove the asset identified by the Veritaseum Asset Backed Token from said storage facility without the Purchaser’s or the bearer of the Veritaseum Asset Backed Token’s prior written consent. Veritaseum Assets LLC at its own expense shall maintain the asset identified by the Veritaseum Asset Backed Token in as good a condition as that in which it was received, normal wear and tear excepted. However, Purchaser or the bearer of the the Veritaseum Asset Backed Token is responsible for any and all fees associated with the bailment by Veritaseum of the asset identified by the Veritaseum Asset Backed Token including, but not limited to, fees for the storage and insurance of the asset. Upon redemption of a Veritaseum Asset Backed Token and termination of the Agreement, Veritaseum Assets LLC shall return the asset identified by the token to the Purchaser or the bearer of the Veritaseum Asset Backed Token in the same condition as it was delivered to Veritaseum Assets LLC, reasonable wear and tear excepted.

Privacy

Although Veritaseum Assets LLC may require Purchasers to provide an email address, subject to these Terms and Conditions, Veritaseum Assets LLC, will not publish any identifying information related to a Veritaseum Asset Backed Token purchase, without the prior written consent of the Purchaser. All such confidential and private information shall be handled according to Veritaseum’s PRIVACY POLICY accessible on the Veritaseum Website.

Sharing of information furnished by the Purchaser to any third party shall be governed by any express or implied privacy agreement between the Purchaser and the third party. However, Veritaseum Assets LLC will cooperate with all law enforcement inquiries, subpoenas, or requests as appropriate.

Purchasers may be contacted by email by Veritaseum Assets LLC regarding a purchase. Such emails will be informational only. Veritaseum Assets LLC will not request any information from Purchasers in an email.

Disclaimer of Warranties

THE PURCHASER EXPRESSLY AGREES THAT THE PURCHASER IS PURCHASING VERITASEUM ASSET BACKED TOKENS AS A CRYPTOGRAPHIC SOFTWARE TOKEN ON AN "AS IS" BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE OR IMPLIED WARRANTIES, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE (EXCEPT ONLY TO THE EXTENT PROHIBITED UNDER APPLICABLE LAW WITH ANY LEGALLY REQUIRED WARRANTY PERIOD TO THE SHORTER OF THIRTY DAYS FROM FIRST USE OR THE MINIMUM PERIOD REQUIRED).

WITHOUT LIMITING THE FOREGOING, NONE OF THE VERITASEUM PARTIES WARRANT THAT THE PROCESS FOR PURCHASING VERITASEUM ASSET BACKED TOKENS WILL BE UNINTERRUPTED OR ERROR-FREE.

Limitations and Waiver of Liability

THE PURCHASER ACKNOWLEDGES AND AGREES THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, THE DISCLAIMERS OF LIABILITY CONTAINED HEREIN APPLY TO ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO USE OF, OR INABILITY TO USE, VERITASEUM ASSET BACKED TOKENS OR THE VERITASEUM PLATFORM UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY KIND IN ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT (INCLUDING NEGLIGENCE), AND THAT NONE OF THE VERITASEUM PARTIES SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA, IN ANY WAY WHATSOEVER ARISING OUT OF THE USE OF, OR INABILITY TO USE, OR PURCHASE OF, OR INABILITY TO PURCHASE, VERITASEUM ASSET BACKED TOKENS.

THE PURCHASER FURTHER SPECIFICALLY ACKNOWLEDGES THAT VERITASEUM PARTIES ARE NOT LIABLE, AND THE PURCHASER AGREES NOT TO SEEK TO HOLD ANY OF THE VERITASEUM PARTIES LIABLE, FOR THE CONDUCT OF THIRD PARTIES, INCLUDING OTHER PURCHASERS OF VERITASEUM ASSET BACKED TOKENS AND ANY THIRD-PARTY INTERMEDIARY USED IN FACILITATING THE VERITASEUM ASSET BACKED TOKENS SALE, AND THAT THE RISK OF PURCHASING AND USING VERITAS RESTS ENTIRELY WITH THE PURCHASER.

TO THE EXTENT PERMISSIBLE UNDER APPLICABLE LAWS, UNDER NO CIRCUMSTANCES WILL ANY OF THE VERITASEUM PARTIES BE LIABLE TO ANY PURCHASER FOR MORE THAN THE AMOUNT THE PURCHASER PAID TO Veritaseum Assets LLC FOR THE PURCHASE OF VERITASEUM ASSET BACKED TOKENS.

SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES. THEREFORE, SOME OF THE ABOVE LIMITATIONS IN THIS SECTION AND ELSEWHERE IN THE TERMS MAY NOT APPLY TO A PURCHASER. IN PARTICULAR, NOTHING IN THESE TERMS SHALL AFFECT THE STATUTORY RIGHTS OF ANY PURCHASER OR EXCLUDE INJURY ARISING FROM ANY WILLFUL MISCONDUCT OR FRAUD OF Veritaseum Assets LLC

Jurisdiction of the Sale

The legal entity conducting the Veritaseum Asset Backed Token Sale, Veritaseum Assets LLC, is organized in the State of Delaware, under the laws of the United States. The Terms and Conditions as well as the Agreement shall be governed by, and construed in accordance with the domestic laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.

Dispute Resolution

All disputes, controversies or claims arising out of, relating to, or in connection with the Terms and Conditions and the Agreement, the breach thereof, or Veritaseum Assets LLC’s sale of Veritaseum Asset Backed Tokens or use of the Veritaseum Platform shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with said Rules. All claims between the parties relating to these Terms that are capable of being resolved by arbitration, in contract, tort, or otherwise, shall be submitted to ICC arbitration.

Prior to commencing arbitration, the parties have a duty to negotiate in good faith and attempt to resolve their dispute in a manner other than by submission to ICC arbitration.

The arbitration panel shall consist of one arbitrator only, unless the ICC Court of Arbitration determines that the dispute is such as to warrant three arbitrators. If the Court determines that one arbitrator is sufficient, then such arbitrator shall be selected from the United States. If the Court determines that three arbitrators are necessary, then each party shall have 30 days to nominate an arbitrator of its choice: in the case of the Claimant, measured from receipt of notification of the ICC Court’s decision to have three arbitrators; in the case of Respondent, measured from receipt of notification of Claimant’s nomination. All nominations must be from the United States. If a party fails to nominate an arbitrator, the Court will do so. The Court shall also appoint the chairman.

All arbitrators shall be and remain “independent” of the parties involved in the arbitration. The place of arbitration shall be fixed by the ICC Court, but the arbitral tribunal may conduct hearings, meetings, and deliberations at any location it considers appropriate. The language of the arbitration shall be English. In deciding the merits of the dispute, the tribunal shall apply the laws of the United States and any discovery shall be limited and shall not involve any depositions or any other examinations outside of a formal hearing. The tribunal shall not assume the powers of amiable compositeur or decide the case ex aequo et bono.

In the final award, the tribunal shall fix the costs of the arbitration and decide which of the parties shall bear such costs in what proportion. Every award shall be binding on the parties. The parties undertake to carry out the award without delay and waive their right to any form of recourse against the award in so far as such waiver can validly be made.

Force Majeure

Veritaseum Assets LLC is not liable for failure to perform solely caused by:

If an event of force majeure occurs, the party injured by the other’s inability to perform may elect to suspend the Agreement, in whole or part, for the duration of the force majeure circumstances. The party experiencing the force majeure circumstances shall cooperate with and assist the injured party in all reasonable ways to minimize the impact of force majeure on the injured party.

Complete Agreement

These Terms and Conditions along with the Agreement, sets forth the entire understanding between each Purchaser and Veritaseum Assets LLC with respect to the purchase and sale of Veritaseum Asset Backed Tokens.

For facts relating to the sale and purchase, the Purchaser agrees to rely only on these two documents in determining purchase decisions and understands that these documents govern the sale of Veritaseum Asset Backed Tokens and supersede any public statements about the Veritaseum Asset Backed Tokens and sales thereof made by third parties, by Veritaseum Assets LLC, or individuals associated with any of the Veritaseum Parties, past and present.

Severability

The Purchaser and Veritaseum Assets LLC agree that if any portion of these Terms and Conditions or the Agreement is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms or Purchase Agreement, which shall continue to be in full force and effect.

Waiver

The failure of Veritaseum Assets LLC to require or enforce strict performance by the Purchaser of any provision of these Terms and Conditions or the Agreement or Veritaseum Assets LLC’s failure to exercise any right under these agreements shall not be construed as a waiver or relinquishment of Veritaseum Assets LLC’s right to assert or rely upon any such provision or right in that or any other instance.

The express waiver by Veritaseum Assets LLC of any provision, condition, or requirement of these Terms and Conditions or the Agreement shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement.

Except as expressly and specifically set forth in this these Terms and Conditions, no representations, statements, consents, waivers, or other acts or omissions by Veritaseum Assets LLC shall be deemed a modification of these Terms and Conditions nor be legally binding, unless documented in physical writing, hand signed by the Purchaser and a duly appointed officer, employee, or agent of Veritaseum Assets LLC

Updates to the Terms and Conditions of the Veritas Sale

Veritaseum Assets LLC reserves the right, at its sole discretion, to change, modify, add, or remove portions of the Terms and Conditions and the Agreement, at any time by posting the amended Terms and Conditions or the amended Agreement on its website. Any Purchaser will be deemed to have accepted such changes by purchasing Veritaseum Asset Backed Tokens.

The Terms and Conditions may not be otherwise amended except in a signed writing executed by both the Purchaser and Veritaseum Assets LLC. For purposes of this agreement, "writing" does not include an e-mail message and a signature does not include an electronic signature.

If at any point Purchaser does not agree to any portion of the then-current version of the Terms and Conditions and Agreement, Purchaser should not purchase Veritaseum Asset Backed Tokens.

To the extent the Terms and Conditions conflict with the Agreement, the Terms and Conditions shall govern.

Cooperation with Legal Authorities

Veritaseum Assets LLC will cooperate with all law enforcement inquiries, subpoenas, or requests provided they are fully supported and documented by the law in the relevant jurisdictions. In accord with one of the core principles of the Veritaseum project transparency—Veritaseum Assets LLC will endeavor to publish any legal inquiries upon receipt.

Further Information

For further information regarding the Veritaseum Asset Backed Tokens, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..

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IMPORTANT!

You must be holding more than 3,333 VERI, be an identifiable accredited investor, or be a member of a family office or qualified purchaser ($5M in assets or higher) to gain access to VeADIR beta.