Terms & Conditions
Legal information for FTEC
PLEASE TAKE INTO ACCOUNT THAT U.S, SINGAPORE AND SWITZERLAND CITIZENS MAY NOT PREORDER
OR PURCHASE TOKENS. IF YOU ARE NOT U.S., SINGAPORE OR SWITZERLAND RESIDENT,
YOU MAY ONLY BE ENGAGED IN PRE-ORDER ONLY IF YOU ARE OUTSIDE OF THE
ABOVEMENTIONED TERRITORIES AT THE MOMENT OF THE PRE-ORDER. YOU ALSO REPRESENT
AND WARRANT THAT YOU ARE NOT A CITIZEN OR RESIDENT OF A GEOGRAPHIC AREA IN WHICH
ACCESS TO OR USE OF THE CRYPTOCURRENCY OR TOKENS IS PROHIBITED BY APPLICABLE LAW
OR BY THE ACTS OF GOVERNMENTAL AUTHORITY. THE COMPANY SHALL RESERVE THE RIGHT TO
REFUSE PRE-ORDER OF FTEC TOKENS TO ANYONE WHO DOES NOT MEET THE CRITERIA SET
FORTH ABOVE. THE TERM “YOU” HERE MEANS BOTH THE INDIVIDUAL PLACING THE PRE-ORDER
AND THE LEGAL ENTITY ON WHOSE BEHALF SUCH INDIVIDUAL IS ACTING.
THIS PRE-ORDER AGREEMENT (HEREINAFTER REFERRED AS “AGREEMENT”) CONTAINS THE
TERMS WHICH GOVERNS YOUR PRE-ORDER OF FTEC PRODUCT (HEREINAFTER REFERRED TO AS
“THE PRODUCT”) AND ITS DELIVERY TO YOU. YOUR PRE-ORDER OF THE PRODUCT AND
PURCHASE OF THE TOKEN FROM MITRIDAT GROUP LP (HEREINAFTER REFERRED AS “COMPANY,”
“WE,” OR “US”) IS THE SUBJECT OF THIS AGREEMENT (EACH OF YOU AND COMPANY IS REFERRED
AS A “PARTY”, AND TOGETHER – AS THE “PARTIES”.
WHEREAS, PARTIES WISH TO ESTABLISH AND MAINTAIN THE TERMS ON WHICH PARTIES WILL
COOPERATE DURING THIS AGREEMENT.
THEREFORE, IN CONSIDERATION OF THE MUTUAL WARRANTIES AND TERMS CONTAINED IN THIS
AGREEMENT, AND FOR OTHER VALUABLE ISSUES, THE RECEIPT AND SUFFICIENCY OF WHICH ARE
HEREBY ACKNOWLEDGED, WE AND BUYER YOU AGREE THE FOLLOWING:
1.1. White Paper – a detailed document concerning the all technical issues underlying a
complex Project and how this technical solution will affect you.
You can find the White Paper by following the link https://ftec.io/en/whitepaper. The
White Paper, as it may be amended from time to time in Company’s sole discretion, is
hereby incorporated by reference. You have read and understands the White Paper and
1.2. Company – Mitridat Group LP, a company incorporated under the legislation of United
Kingdom, bearing the SL 31014 Limited Partnership number with the purpose of the FTEC
Product development, modification and implementation.
THE MENTIONED ABOVE COMPANY IS NOT BEING A FINANCIAL ENTITY, STOCK,
EXCHANGE, INVESTMENT ENTITY OR A PARTNER, EMPLOYER, AGENT OR ADVISER FOR
1.3. FTEC Token (“FTEC”; “Token”) – is a tool, developed to perform a function of access key
that enables access to the Product ones it is ready. Purchasing any amount of the FTEC
Tokens mean that You pre-order the Product.
FTEC TOKEN IS NOT A STOCK, SECURITIES OR ANY OTHER INVESTMENT OR FINANCIAL
INSTRUMENT AND, AMONG OTHER THINGS, IT IS CONFIRMED BY RELEVANT LEGAL
OPINION https://ftec.io/en/legal-opinion. FTEC TOKEN SOLELY PERFORMS THE UTILITY
FUNCTION OF BEING THE PRE-ORDER ACCESS KEY TO THE PRODUCT.
1.4. FTEC Product (“Product”; “Project”) – it is a trading ecosystem which includes complex
tools, services and neural networks for conducting effective trading activity in the cryptocurrency
markets and can be integrated only by using FTEC Tokens. A thorough technical
description of the Project is presented in the White Paper.
PLEASE NOTE THAT THE PROJECT IS STILL UNDER DEVELOPMENT AND DUE TO THAT MAY
UNDERGO SOME CHANGES OVER TIME. ALTHOUGH COMPANY INTENDS FOR THE
PROJECT TO HAVE THE FEATURES AND SPECIFICATIONS SET FORTH IN THE WHITE PAPER,
COMPANY MAY MAKE CHANGES TO SUCH FEATURES AND SPECIFICATIONS FOR ANY
NUMBER OF REASONS, ANY OF WHICH MAY MEAN THAT THE PLATFORM DOES NOT
MEET BUYER’S EXPECTATIONS.
1.5. Cryptocurrency wallet (“Crypto wallet”) – it is a storage mechanism that is used by the
Company to collect proceed received from the sold FTEC Tokens. You can find detailed
description how to transfer your Ethereum here ftec.io.
1.6. Authority – is any nation or government, any state or other political element thereof, any
entity exercising legislative, executive, judicial or administrative functions of or
pertaining to government, including without limitation any government authority,
agency, department, board, commission or instrumentality and any court, arbitrator of
competent jurisdiction and any self-regulatory organization. For the avoidance of doubt,
Governmental Authority may include private bodies exercising quasi-governmental,
regulatory or judicial-like functions to the extent they relate to either Parties, Tokens
and/or the Product.
1.7. Pre-order period – FTEC token creation for the pre-order begins at 14:00 GMT April 11,
2018. ETH can be contributed to a contract address for an initial period beginning after
14:00 GMT April 11, 2018 on and continuing until 14:00 GMT May 08, 2018.
2.1. Pre-order of the Product is the subject of this Agreement. According to this Agreement
and the White Paper of the Project pre-order is implemented by purchasing of the FTEC
token in the Pre-order period.
2.2. Pre-ordering of the Product in this case means that the relevant payments are made at
Pre-order period, but you acknowledge and agree that the Product will be delivered at a
later date, as it stated in White Paper.
2.3. By submitting a pre-order for the Product, you are making an offer to purchase the
Product in near future. For making a following offer You: (i) must be at least 18 (eighteen)
years old; (ii) shall meet all eligibility and residency requirements, and (iii) shall has
sufficient legal capacity to enter into this Agreement and submit pre-order of FTEC
BY AGREEING TO THIS AGREEMENT, YOU REPRESENT AND WARRANT TO THE COMPANY
THAT YOU MEET THE FOREGOING REQUIREMENT.
2.4. If you are making the pre-order of the Product on behalf of an entity, organization, or
company, you warrant and represent that you have all the necessary authority to bind
that organization You represent to this Agreement and you agree to be bound hereby on
behalf of abovementioned organization.
2.5. By submitting this Agreement, You represent and warrant that your Ethereum does not
came from illegal sources, that You are not using any proceeds of criminal or illegal
activity, and that no transaction involving FTEC Tokens are being used to facilitate any
criminal or illegal activity.
2.6. In order to enter this Agreement, you will be needed to provide certain personal
information as it is described by our Privacy and KYC policies. You represent and warrant
that all such information is accurate, and you shall ensure that such information is kept
current. The Company shall have no responsibility or liability for inaccurate information
or information that later becomes outdated and shall have no obligation to make efforts
to determine the correct contact or shipping information.
2.7. By pre-ordering the Product, you receive the keys to it in the form of crypto token (FTEC
token), that can be used to get access to the Product upon its delivery. You shall make
the payment for the pre-order at the time of pre-order rather than at the delivery of the
2.8. FTEC token is not being developed, structured or sold as any sort of securities or other
form of investment product. FTEC Token function solely as a key to relevant Product and
do not has any features.
2.9. This Agreement does not constitute a prospectus of any sort, is not a solicitation for
investment, does not pertain in any way to an initial public offering or a share/equity
offering, and does not pertain in any way to an offering of securities in any jurisdiction.
TAKING INTO ACCOUNT THE ABOVE YOU AGREE AND UNDERSTAND THAT YOU ARE
PURCHASING TOKENS DURING THE PRE-ORDER PERIOD FOR YOUR OWN PERSONAL USE
AND UTILITY AND TO PARTICIPATE ON THE NETWORK AND NOT FOR INVESTMENT OR
FINANCIAL PURPOSES. YOU ALSO AGREE AND UNDERSTAND THAT TOKENS ARE NOT A
SECURITY OR A CRYPTOCURRENCY AND ACKNOWLEDGE THAT TOKENS MAY LOSE ALL.
3. PAYMENTS AND TAXATION
3.1. The price of FTEC Token is set forth in the amount of 1 (one) FTEC Token to
0.00007874015748 ETH according to the rate of ETH in the of Pre-order period. By this
Agreement You agree to pay a relevant price for the FTEC Token by the way of transfer
it to the Crypto wallet.
3.2. The payment for FTEC Token can be made in Ethereum. The Company does not accept
payments in fiat due to that all necessary payments shall be made in Ethereum. It means
that if You decide to use fiat you have to convert it into Ethereum.
3.3. To purchase a FTEC Token You may only send Ethereum from your personal
cryptocurrency wallet in amount which is equivalent to the amount of FTEC Tokens you
want to buy.
3.4. The mentioned in this section of Agreement payments or equivalents are indicated
without taking into account any taxes or fees, that shall be paid if any. You must seek
your own tax advice in connection with the acquisition, storage, transfer, and use of FTEC
Tokens, which may result in adverse tax consequences to you, including, without
limitation, withholding taxes, transfer taxes, value added taxes, income taxes and similar
taxes, levies, duties, or other charges and tax reporting requirements. It means that You
are solely responsible for your own compliance with tax obligations
THE COMPANY BEARS NO LIABILITY OR RESPONSIBILITY WITH RESPECT DUE TO ANY TAX
CONSEQUENCES TO YOU.
4. PRODUCT DELIVERY
4.1. You acknowledge and agree that the pre-ordered Product is not currently available for
delivery. The Product delivery takes place after using of the FTEC Token, you are provided
with as a result of a pre-order, at the time of actual product availability.
4.2. The Company will make maximum efforts to begin delivery of the Product as soon as
reasonably practicable, you understand and agree that there may be some reasonable
delays due to different technical issues. An approximately time of delivery is only an
estimate, is subject to change, and the Company does not represent or warrant that it
will be able to deliver the Product by the estimated date. As a result, in the event that a
delay arises and the estimated release of the product is not met, the Company is not
responsible for any damages that may occur due to the delay, nor shall it be obligated.
5.1. Hereto hereby You fully agree that your pre-order of FTEC Tokens from Us during the
Pre-order period is final, and there are no refunds or cancellations except the following:
(i) as may be prescribed by applicable law or regulation, (ii) in the event that the Softcap
of Pre-Sale (2000 ETH) will not be reached. The Company reserve the right to refuse or
cancel pre-order of FTEC Token at any time in our sole and absolute discretion and to
stop the Pre-order or Token Sale entirely. However, the company does not warrant,
represent, or offer any assurances that it will be ability to successfully recover and/or
return abovementioned payments.
6.1. FTEC TOKENS ARE PROVIDED ON AN "AS IS" BASIS, WITHOUT ANY KIND OF WARRANTIES.
YOU ASSUME ALL RESPONSIBILITY AND RISKS DUE TO BUYING OF ANY AMOUNT OF THE
FTEC TOKENS AND THEIR USE. YOU FULLY AGREE THAT, TO THE MAXIMUM EXTENT
PERMITTED BY THE APPLICABLE LAW, THE COMPANY DOES NOT ACCEPT ANY LIABILITY
FOR ANY DAMAGE, INCLUDING LOSS, REVENUE, PROFITS, OR LOSS OF OR DAMAGE TO
DATA, EQUIPMENT, OR SOFTWARE (DIRECT, INDIRECT, PUNITIVE, ACTUAL,
CONSEQUENTIAL, INCIDENTAL, SPECIAL, EXEMPLARY OR OTHERWISE), RESULTING
FROM ANY USE OF, OR INABILITY TO USE THE PRODUCT OR THE SOFTWARE, FACILITIES,
SERVICES OR CONTENT RELATED TO IT, AS WELL AS FROM PURCHASING OF THE FTEC
TOKENS, REGARDLESS OF THE BASIS, UPON WHICH THE LIABILITY IS CLAIMED AND EVEN
IF THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE.
HEREBY YOU UNDERSTAND AND AGREE THAT THE COMPANY SHALL NOT BE HELD LIABLE
TO AND SHALL NOT ACCEPT ANY LIABILITY, OBLIGATION OR RESPONSIBILITY
WHATSOEVER FOR ANY CHANGE OF THE VALUE OF THE FTEC TOKENS.
6.2. By pre-ordering FTEC Token and purchasing the Product, you expressly acknowledge and
assume the following risks:
6.2.1. Risks associated with the Ethereum protocol. FTEC Tokens and the Product are
based on the Ethereum protocol, it means that any malfunction, breakdown of the
Ethereum protocol may have a material adverse effect on the Product or FTEC
6.2.2. Risk related to mining. As with other decentralized cryptographic tokens based on
the Ethereum protocol, FTEC Tokens are susceptible to attacks by miners in the
course of validating FTEC Tokens transactions on the Ethereum blockchain,
including, but not limited, to double-spend attacks, majority mining power attacks,
and selfish-mining attacks. Any successful attacks present a risk to the Product and
FTEC Tokens, including, but not limited to, accurate execution and recording of
transactions involving FTEC Tokens.
6.2.3. Risk associated with taxes. The tax characterization of FTEC Tokens is uncertain.
You are solely responsible for determining what, if any, taxes apply to your
purchase of FTEC Tokens, including, for example, sales, use, value added or similar
6.2.4. Risks of hacker attack and security weakness. Malicious groups or organizations
may attempt to interfere with the Product or FTEC Tokens in many ways, including,
but not limited to, malware attacks, denial of service attacks, consensus-based
attacks, smurfing and spoofing. Furthermore, because the Product is based on
open-source software, there is a risk that a third party or a member of the Company
team may intentionally or unintentionally introduce weaknesses into the core
infrastructure of the Product, which could negatively affect the Product and FTEC
6.2.5. Risk of disbandment. It is possible that, due to any number of reasons, including,
but not limited to, the failure of commercial relationships, or intellectual property
ownership challenges, the Product may no longer be viable to operate and the
Company may dissolve.
6.2.6. Risk of losing access. A private key, or a combination of private keys, is necessary
to control and dispose of FTEC Tokens stored in your digital wallet. Accordingly,
loss of requisite private key(s) associated with your digital wallet FTEC Tokens will
result in loss of such tokens. Moreover, any third party that gains access to such
private key(s), including by gaining access to login credentials of a digital wallet or
vault service you use, may be able to misappropriate your FTEC Tokens.
6.2.7. Risk related to market. FTEC Tokens are intended to be used solely for the
purposes of accessing the Product, and Company will not support or otherwise
facilitate any secondary trading or external valuation of FTEC Tokens. This restricts
the contemplated avenues for using FTEC Tokens to access or use the Product and
could therefore create illiquidity risk with respect to FTEC Tokens you hold. Even if
secondary trading of FTEC Tokens is facilitated by third party exchanges, such
exchanges may be relatively new and subject to little or no regulatory oversight,
making them more susceptible to market-related risks. Furthermore, to the extent
that third-parties do ascribe an external exchange value to FTEC Tokens (e.g., as
denominated in a digital or fiat currency), such value may be extremely volatile and
diminish to zero.
6.2.8. Risk of uninsured losses. Unlike bank accounts or accounts at some other financial
institutions, FTEC Tokens are uninsured unless you specifically obtain private
insurance to insure them. Thus, in the event of loss or loss of utility value, there is
no public insurer or private insurance arranged by us, to offer recourse to you.
6.2.9. Risks associated with uncertain regulations and Authority actions. The regulatory
status of FTEC Tokens and distributed ledger technology is unclear or unsettled in
many jurisdictions. It is difficult to predict how or whether regulatory agencies may
apply existing regulation with respect to such technology and its applications. It is
likewise difficult to predict how or whether legislatures or regulatory agencies may
implement changes to law and regulation affecting distributed ledger technology
and its applications, including the Product and FTEC Tokens. Regulatory actions
could negatively impact the Product and FTEC Tokens in various ways. Company
may cease operations in a jurisdiction in the event that regulatory actions, or
changes to law or regulation, make it illegal to operate in such jurisdiction, or
commercially undesirable to obtain the necessary regulatory approval(s) to
operate in such jurisdiction.
6.2.10. Alternative platforms risk. It is possible that alternative platforms could be
established that utilize the same open source code and protocol underlying the
Product. The Product may compete with these alternative platforms, which could
negatively impact the Product and FTEC Tokens, including FTEC Tokens’ utility for
6.2.11. Risks associated with lack of interest to the Product. It is possible that the Product
will not be used by a large number of individuals, companies and other entities or
that there will be limited public interest in the creation and development of
distributed platforms (such as the Product) more generally. Such a lack of use or
interest could negatively impact the development of the Product and the potential
utility of FTEC Tokens.
6.2.12. Risks arising from lack of governance rights. FTEC Tokens confer no governance
rights of any kind with respect to the Product or Company, all decisions involving
the Product or Company will be made by Company at its sole discretion, including,
but not limited to, decisions to discontinue the Product, to sell more FTEC Tokens
to access the Product, or to sell or liquidate the Company. These decisions could
adversely affect the Product and the utility of FTEC Tokens that you hold.
6.2.13.Unforeseeable risks. Cryptographic tokens such as FTEC Tokens are a new and
untested technology. In addition to the risks included in this Appendix, there are
other risks associated with pre-order, holding and use of FTEC Tokens, including
those that the Company cannot anticipate. Such risks may further materialize as
unanticipated variations or combinations of the risks discussed in this Appendix.
7. INTELLECTUAL PROPERTY
7.1. All content on the following website ftec.io is an intellectual property of the Company or
its licensors’, it is also integral part of the Product, and is protected by copyright,
trademarks and any other applicable laws, unless otherwise noted below.
7.2. Trademarks, trade names, and Company logos are the property of the Company and the
integral part of the Product. Software, applications, text, images, graphics, data, prices,
professions, graphics, graphics, video and audio materials used on this site belong to the
Company or to the respective owners. Trademarks and other content on the website
ftec.io must not be copied, reproduced, modified, republished, uploaded, posted,
transmitted, cleared, collected or distributed in any form or by any means, regardless of
whether: manually or automated.