Terms and conditions for NBX Referral Program (as of 31.08.21)
1. Introduction
The NBX Referral Program (‘Referral Program’) offered by Norwegian Block Exchange AS (‘NBX’) has been created to reward our loyal customers (‘referrer’, ‘customer’) for recommending and sharing knowledge about your relation to NBX’ exchange platform. It is also created to reward friends, family and others for signing up as a customer at the NBX exchange platform at your referral.
The enclosed terms and conditions apply for the Referral Program (‘Referral Program Terms and Conditions’), and regulate the contractual relations between customers/users and NBX AS. By participating in the Referral Program, you agree to the Referral Program Terms and Conditions and NBX’ Privacy Policy. You are not authorized to participate in the Referral Program, if you do not agree to these Referral Program Terms and Conditions in their entirety.
NBX reserves the right to modify these Referral Program Terms and Conditions at any time, at its sole discretion, and without notice to you. Participation in the Referral Program is considered acceptance of Referral Program Terms and Conditions and any modifications which might be made. NBX may also, in its sole discretion, change, cancel, suspend, or modify any aspect of the Referral Program without notice. NBX also reserves the right to disqualify any customers or prospective customers at any time from participation in the Referral Program.
2. Definitions and Referral Fees
2.1. Referred customers
A ‘referred customer’ is a physical individual that has been accepted as a customer of NBX. The onboarding process requires identification of user and sign-in with a BankID, passport or accepted national ID card. The referral bonus is payed to the customer that ‘owns’ the link used by the referred customer in the onboarding process.
2.2. Unique Referral link
A unique referral link is displayed to existing customers upon their confirmation of ‘read and understood’ the Referral Program Terms and Conditions.
2.3. Referral Bonus
A referral bonus is when a customer receives a payout when someone he refers to NBX verifies an account.
Paid out: after KYC verification
2.4. Sign-up bonus
When the referred customer has completed signup, the customer receives a reward. This is to incentivize the customer to use the sign-up link.
Paid out: after KYC verification
2.5. Referral commission
The customer receives commission on the trading of the referred customer; That is earning 20% of the fees the referred customer pays to NBX the first 52 weeks after the referred customer is verified.
What currency to receive the payout: The currency that is in the fees for the given trade. Can be either fiat or crypto.
2.6. Payment conditions
NBX will do the outmost to pay bonus and commission as close to the onboarding of a referred customer and its activity on the exchange platform. Referral Fees are paid to the customers NBX account.
3. How the Referral Program Works
3.1. Qualified Referrals
A Qualified Referral occurs when:
i. The Referrer, a current customer of NBX, clicks the Referral Program link on the NBX website, accept the Referral Program Terms and Conditions, and receive a unique Referral Program Link
ii. The Referrer shares his/her Referral Link of his/her Referred customers;
iii. The Referred customer then sign on to the NBX exchange platform, and is subjected to NBX’ onboarding procedure for new customers; and
iiii. When the Referred customer account has been accepted by NBX, the Referrer will receive a referral bonus, and the Referred customer will receive a sign-up bonus.Eligibility
3.2. Eligibility
To be eligible for participation in the Referral Program, the Referrer must be a current Customer of NBX. Both the Referrer and the Referred must be at least 18 years of age. NBX reserves the right to find ineligible any Participant in the Program at its sole discretion.
3.3. Reward Conditions
Rewards may be taxable, depending on the value of the item and the federal, state, and local tax laws applicable to the Participant. Participants are solely responsible for reporting such items on their tax returns and paying any associated tax liability.
3.4. Conduct
Participants in the Program must comply with all up-to-date “SPAM” laws. Any distribution of your referral link that could constitute unsolicited commercial email or “spam” under any applicable law or regulation is expressly prohibited and will be grounds for immediate termination of your account and exclusion from NBX’s Referral Program. Further, any kind of marketing of NBX through the referral link must be referred to as marketing, in accordance with Norwegian law.
NBX reserves the right, at its sole discretion, to prohibit any Member from participating in any aspect of the Referral Program if NBX deems or suspects that such Member has engaged in or has attempted to engage in any of the following:
a. acting in violation of these Referral Program Terms and Conditions;
b. damaging, tampering with or corrupting the operation of the Referral Program or NBX’ services;
c. acting with intent to annoy, harass, or abuse any other person;
d. any inappropriate, uncooperative, disruptive, fraudulent, potentially fraudulent, or unusual behavior or activity; or
e. activity deemed in the sole discretion of NBX to be generally inconsistent with the intended operation of the Referral Program.
NBX shall be the sole determiner in cases of suspected abuse, fraud, or breach of these Referral Program Terms and Conditions or intent of these Referral Program Terms and Conditions.
4. Liability
4.1. Binding Effects
By participating in the Referral Program, you agree to and are bound by the Referral Program Terms and Conditions. If you do not wish to agree to and abide by the Referral Program Terms and Conditions in their entirety, you are not authorized to participate in the Referral Program.
4.2. Termination
4.2.1. Referral program
NBX may, in its sole and absolute discretion, cancel, change, suspend, or modify any aspect of the Referral Program or the Referral Program Terms and Conditions at any time, without notice.
4.2.2. Customers
NBX may, in its sole and absolute discretion, terminate or suspend any Member’s participation in the Referral Program for breach of these Referral Program Terms and Conditions or taking any actions that are inconsistent with the intent of these Referral Program Terms and Conditions.
4.3. Release
By participating in the Referral Program, Participants release NBX, its subsidiaries, affiliates, suppliers, advertising, and promotions agencies and their respective directors, officers, employees, and agents from any and all liability for any loss, harm, damages, cost, or expense arising out of or in any way connected to the Referral Program and/or the use of any Referral Program rewards.
4.4. Indemnification
Existing customers agree to indemnify, defend, and hold NBX and its representatives and agents harmless from and against any and all third party claims, demands, liabilities, costs, or expenses, including attorney’s fees and costs, arising from, or related to any breach by the participant of any of these Referral Program Terms and Conditions or any violation by Participant of applicable law.
5. Disclaimer
5.1. Computer System
NBX disclaims any liability for damage to any computer system resulting from participating in, or accessing or downloading information in connection with the Referral Program, and reserve the right, in NBX’s sole discretion, to cancel, modify, or suspend the Referral Program should a virus, bug, computer problem, unauthorized intervention, or other causes beyond NBX’s control, corrupt the administration, security, or proper play of the Referral Program.
5.2. Force Majeure
NBX shall not be liable to any Participant for failure to supply any credit or any part thereof, by reason of any acts of God, any action(s)m regulation(s), order(s), or request(s) by any governmental or quasi-governmental entity (whether or not the action(s), regulation(s), order(s), or request(s) prove(s) to be invalid), equipment failure, threatened terrorist attacks, terrorist acts, air raid, blackout, earthquake, tornado, war, unusually severe weather, explosion, labor or material shortage, transportation interruption of any kind, work slow-down, civil disturbance, or any other similar or dissimilar cause beyond any of the Released Parties’ control.
5.3. Reserved Right
NBX reserves the right to cancel or suspend the Referral Program should it determine, in its sole discretion, that the administration, security, or fairness of the Referral Program has been compromised in any way.
5.4. Disclaimer of Warranties
Referrals and Referees expressly understand and agree that:
i) Your use of the Referral Program is at your sole risk, the Referral Program is provided on an ‘as is’ basis and NBX expressly disclaims all warranties, conditions and terms of any kind, whether express or implied by statute, common law or custom, including, but not limited to, promises as to products or services offered through the use of the Referral Program or implied promises of merchantability;
ii) NBX makes and gives no promises that the program will:
a. Meet your requirements,
b. Be uninterrupted, timely, secure, or error-free,
c. The results obtained from the use of the Referral Program will be accurate or reliable,
d. The quality of any products, services, information, or other material obtained by you through the Referral Program will meet your expectations, and
e. Any errors in the service will be corrected
iii) Any material downloaded or otherwise obtained through the use of the Referral Program is accessed at your own discretion and risk, and you will be solely responsible for any damage to your computer system or mobile device or loss of data that results form the download or use of any such material.
6. Other Terms
6.1. General Terms
These Referral Program Terms and Conditions constitute the entire agreement between Participants and NBX concerning Participants’ use of the Referral Program. The failure of NBX to exercise or enforce any right or provision of these Referral Program Terms and Conditions shall not constitute a waiver of such right or provision. If any provision of these Referral Program Terms and Conditions is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of these Referral Program Terms and Conditions remain in full force and effect. The section titles in these Referral Program Terms and Conditions are for convenience only and have no legal or contractual effect. A person who is not a party to these Referral Program Terms and Conditions shall have no right to enforce or receive the benefit of any of these Referral Program Terms and Conditions.
Any legal dispute will be subjected to the Norwegian courts.