1.1 Toba Distribution Limited operates “ the Toba application”, “the Toba token” and “the Toba website” at https://tobaelectricbike.com that allows users to purchase electric bikes in exchange for cryptoassets. Toba Distribution Limited will accept the following cryptoassets: Bitcoin (BTC), Bitcoin Cash (BCH), & TOBA TOKEN (TOBA)
1.2 This document and any documents referred to within it (collectively, the “Terms and Conditions”) set out the terms on which we will sell electric bikes in return for cryptoassets. It is important that you read and understand the Terms and Conditions before purchasing an electric bikes from Toba Distribution Limited.
1.3 If you do not agree to these Terms and Conditions, you should not buy any Toba products and services.
The Toba Tokens are issued by Toba Distribution Limited (United Kingdom), a company registered in the United Kingdom, England with company number 11851872 and its registered address at Unit 1T, Charnwood Business Park, North Road, Loughborough, Leicestershire, LE11 1LE (“Toba Distribution Limited”, or “Company”, or “we”, or “our”, or “us”).
4.3 Toba Tokens will be issued to and held by the Toba user’s account for life or until exchanged for other cryptoassets as they earn them through “the Toba Rewards Programme”
4.4 The sale of Toba Tokens in accordance with these Terms and Conditions is not being offered in any state or jurisdiction where the offer or sale is not permitted.
4.5 Toba Tokens are not investment tools. These Terms and Conditions are not an offer for the sale or purchase of any financial or security tools or participation in any kind of investment option.
4.6 Please read the White Paper which sets out detailed information about the Toba Tokens, including:
A. the usage attached to the Toba token;
B. information about the issuance of Toba token;
C. information about the Toba Application and Website Service; and
D. certain risks associated with buying or holding Toba tokens.
4.7 Toba tokens are not an investment in Toba Distribution Limited and do not give you any rights with respect to Toba Distribution Limited, our revenues or assets. This means you will not own any part of Toba Distribution Limited or its assets, have any rights to receive any amount on a dissolution or winding up of Toba Distribution Limited, have any right to information about us or our affiliates, receive any dividends or to vote on any matters concerning Toba Distribution Limited or its affiliates. If you purchase Toba tokens, you are not making a loan to Toba Distribution Limited and any amount you spend when you buy TOBAs will not be repayable to you.
4.8 The legal status of cryptoassets such as Toba tokens is unclear or unsettled in many jurisdictions. Changes in applicable laws may affect any rights and functionalities associated with the Toba tokens. The Toba Distribution Limited may also develop over time, which may affect how Toba tokens can be used (if at all) on the Toba Application or website. The functionalities of the Toba tokens may therefore be amended from time to time, for example to ensure compliance with any legal or regulatory requirements to which the Toba tokens are subject or to adapt to the changing characteristics of the Toba application. Please check the Website regularly for any such updates.
4.9 If you have any questions about these Terms and Conditions, the Toba Tokens or the White Paper, you should speak to your stockbroker, bank manager, solicitor, attorney, accountant or other professional adviser.
We can refuse to issue you Toba tokens,
5.1 All issuance for Toba tokens are subject to acceptance by Toba Distribution Limited or Cryptophyl. We will need to conduct certain checks in order to verify your identity before we issue Toba Tokens to you. We may refuse to issue Toba Tokens to you if we are unable to verify your identity.
General risks associated with buying cryptoassets
5.2 Dealing or trading in Toba tokens is, like all cryptoassets, inherently risky, as the prices of cryptoassets can change rapidly. We cannot guarantee that the value of any cryptoassets that you purchase will not fall. You therefore buy or sell Toba tokens at your own risk. You should ensure that you are able to accept this risk before you buy any Toba tokens and for as long as you hold any Toba tokens.
5.3 The purchase of Toba tokens may not be subject to the protections of any laws or regulations in the country where you live governing the purchase and sale of financial products. You may therefore not benefit from the same protections you might have under applicable laws as you might do when you buy other financial products.
5.4 If we accept your order to buy Toba tokens, your TOBAs will be deployed to your SLP Toba wallet.
5.5 You are responsible for keeping your user account details secure. You should never give your user account details to any other person, as this will enable them to execute transactions using your account. We will not be responsible for any losses you might suffer from disclosing your user account details to another person (whether intentionally or accidentally) or any unlawful access to your Toba Application or website user account by another person.
5.6 If you lose your Toba profile details you may not be able to access or use your Toba tokens. We will not be able to re-issue any Toba tokens to you, and you will be responsible for any losses you might suffer as a result.
5.7 Dealing in cryptoassets also carries other risks inherent in the decentralised technology that allows for the creation, purchase and sale of cryptoassets. For instance, the blockchain network on which the Toba tokens are deployed may be unavailable at certain times, or may suffer a security breach. You should ensure that you are sufficiently familiar with all of the relevant risks before you purchase or sell Toba tokens. Toba tokens may have no value.
5.8 Toba tokens are intended to be used only in connection with Toba Services, as specified in the White Paper. TOBAs may have no value outside the Toba network.
5.9 If there is a secondary market for Toba tokens, the price of Toba tokens will depend on the liquidity of that potential secondary market for the sale and purchase of Toba tokens. This will be influenced by a number factors, including the number of Toba token holders, the performance of Toba tokens, Toba Distribution Limited, Toba website, the Toba Application, regulatory developments and legal restrictions
on the sale and purchase of Toba tokens. You will not have access to complete information about Toba Distribution Limited or Toba tokens performance when deciding whether to sell or buy Toba tokens and the price at which you may wish to sell or buy Toba tokens. Changes in laws may also restrict your ability to buy or sell Toba tokens or severely affect the price at which you can buy or sell Toba tokens. We will not be responsible for any losses you might suffer as a result of any changes in the value of Toba tokens.
5.10 Because applicable laws may change in the future, we also cannot guarantee that, if you decide to sell or exchange Toba tokens in future, the sale or exchange of Toba tokens will be legal in the country where you live. You may be unable to sell any Toba tokens that you own, and we will not be responsible to you for any losses you may suffer as a result.
5.11 The purchase and receipt of Toba tokens may have tax consequences for you. You are responsible for ensuring that you comply with all tax obligations applicable to your purchase and receipt of Toba tokens. We will not be responsible to you for any amount you are required to pay in tax or any penalties you face in connection with your purchase or receipt of Toba tokens.
5.12 As a British Company, the status of the United Kingdom in connection with the Brexit remains unclear. This may affect regulation and taxation of Toba Distribution Limited.
6.1 In order to buy Toba tokens you must submit an order for Toba tokens through an “Exchange” namely “Cryptophyl” and provide:
A. your name and address;
B. the amount you will pay for the Toba tokens (the “Purchase Price”);
C. the amount of Toba tokens to be issued to you, calculated by dividing the Purchase Price by the price discovered (the “TOBA Price”),
6.2 Each order for Toba tokens must also exceed the minimum purchase amount as set out on the Website (the “Minimum Purchase Amount”).
6.3 Provided you pay the Purchase Price and satisfy all other conditions in these Terms and Conditions, the Exchange will issue the specified amount of Toba tokens to you.
7.1 By signing and submitting an order to buy Toba tokens through an Exchange, you will be under an obligation to pay the Purchase Price to the Exchange.
7.2 You should check the details in any order for Toba tokens you submit to them and amend any errors before submitting it to them. Please take the time to read and check your order before you complete the order process.
7.3 All orders are subject to acceptance by the Exchange. They will confirm to you through the exchange when they accept your order. The contract for purchase of Toba tokens between you and them will only be made when they send you this confirmation of acceptance. In most cases you will be automatically accepted and issued Toba tokens.
7.4 If you change your mind about purchasing Toba tokens you may not cancel this transaction.
8.1 After the Exchange accepts your order, they will charge you the Purchase Price in the currency you select when you place your order.
8.2 They accept payment in currencies and cryptocurrencies as specified on their Website and accessible to you on your Exchange user account.
8.3 They will calculate the amount they charge you by reference to the prevailing exchange rates applied to non-US Dollars amounts on the Exchange Platform on the date they collect payment from you.
8.4 By submitting an order to buy Toba tokens to them, you confirm that your payment details provided through the Cryptophyl Platform are valid and correct.
9.1 The Toba Distribution Limited Platform will not hold any Toba tokens on your behalf, you will be able to transfer Toba tokens freely from your exchange, the Toba wallet or any SLP accepting wallet.
9.2 You should therefore ensure that you keep any details you use to access the Toba profile or any partner accounts confidential, in accordance with our Toba Distribution Limited Terms and Conditions available on the Website, as we will not be responsible to you for any losses you suffer if your Toba account is accessed by another person.
10.1 TOBA airdrop tokens can be redeemed exclusively only by Cryptophyl account holders up until 23rd November 2019 using the special redemption category link provided.
10.2 12 bikes have been allocated with a fixed price of 28750 Toba Tokens which be exchanged in return for electric bikes on the tobaelectricbike.com website.
10.3 Free delivery is offered to all UK locations and £500 will be charged for delivery across the globe within reason. We do not deliver to the North pole, Antartica and any countries under embargo from UK exports. All customers are responsible for their own local import duties and taxes.
10.4 Throughout redemption week 16th-23rd November 2019. Small airdrop gifts may be offered in return for Toba Tokens. So do not worry if you do not have enough tokens for a bike we will provide other goodies that will get you to transact and help the network take hold.
10.5 After redemption week any remaining stock will be added back to public stock allocation. These will be re listed at the RRP and exchanged for BTC/BCH or Toba at the live market rate at the time of purchase.
Below is a list of the bikes allocated for the purpose of the airdrop.
ATOM STREET PRO
ATOM DIAMOND WAVE PRO
|EA310||ATOM STREET||M||28750 TOBA||2||https://tobaelectricbike.com/shop/bh-atom-street/|
|EA420||ATOM CITY PRO||L||28750 TOBA||2||https://tobaelectricbike.com/shop/bh-atom-city-pro/|
In order to purchase or receive Toba tokens, you must:
A. be 18 years or older and capable in your country of residence of entering into a legally binding agreement;
B. not have been previously refused Toba tokens by us or any of our partners;
C. have set up a user account on an Exchange;
not be resident in or a citizen of any country where transactions with digital tokens are prohibited or restricted under applicable law, including [the United States of America (including its states and the district of Columbia), Puerto Rico, the Virgin Islands of the United States, or any other possessions or territories of the United States of America, North Korea, the People’s Republic of China, and any other country or territory where transactions with digital tokens are prohibited or otherwise restricted.
12.1 The Exchange will need to verify your identity in order for you to receive Toba tokens. This is known as “Know Your Customer” or “KYC”, which is required by law when issuing Toba tokens.
12.2 We may ask you to provide certain information to help us verify your identity, information about the source of the funds you use to pay the Purchase Price and, if you are buying Toba tokens on behalf of a company, information about all direct or indirect beneficial owners of that company. You must ensure that any information you provide is accurate, as we will not be responsible for you if you are unable to verify your identity because of any errors or omissions in the information you have provided to us.
12.3 Your identity may be subject to verification including, but not limited to, validation against third party databases or the verification of one or more official government or legal documents that confirm your identity and your place of residence.
12.4 Some of the searches which we or a third party may perform, such as a credit check, may leave a soft footprint on your credit history. This will not affect your credit rating.
12.5 We may refuse to issue Toba tokens to you if you are unable to verify your identity.
13.1 We are committed to preventing money laundering and any activity that facilitates money laundering, financing terrorism or any other criminal activity. We may therefore, from time to time:
A. conduct enhanced or periodic identity checks where we suspect that any unlawful activity may have taken place, or as part of our ongoing risk management procedures;
B. monitor how you use Toba tokens to identify any suspicious transactions, including unusual transaction sizes, C. volumes or patterns; and
D. report any suspicious activity to local regulators, enforcement bodies and other compliance bodies.
13.2 We may refuse to issue Toba tokens to you if:
we are unable to complete any diligence checks on you;
we have previously identified you as an individual engaged in suspicious activity;
you are in a country considered to be exposed to a high risk of money laundering or financing terrorism;
you are a politically exposed person, or are a family member or known close associate of a politically exposed person;
you are listed on a sanctions list in any of the jurisdictions in which we or they may issue Toba tokens; or
we or they otherwise identify you as an individual exposed to a high risk of money laundering or financing terrorism.
14.1 The value of cryptoassets such as Toba tokens is volatile and subject to a range of factors, including the performance of Toba Distribution Limited and its associated products and services, changes in applicable law, the number of holders of Toba Tokens and the availability of a secondary market. The value of Toba tokens may also be susceptible to manipulation.
14.2 The value of Toba tokens may therefore rise or fall due to circumstances outside our control. You must ensure that you are aware of and willing to accept all risks associated with buying or trading in cryptoassets. We will not be responsible to you for any losses you suffer as a result of any fluctuations in the price of Toba tokens.
14.3 Toba tokens are intended to be used only on the Toba application, Toba website or on an Exchange such as Cryptophyl and may have no value outside these. We will not be responsible to you if you suffer any losses as a result of being unable to use the Toba tokens other than through the Toba Application and website.
14.4 As with any new tokens or other cryptoassets, there may not at any time be a market for trading in Toba tokens. This means that you may not be able to sell any Toba tokens that you buy, and the Toba tokens may not have any value outside the Toba network. You acknowledge that this is an inherent risk associated with the launch of new tokens such as Toba tokens and we will not be responsible to you for any losses you might suffer as a result.
14.5 Certain features of the Toba token may rely on networks and connections that are beyond our control or on content owned or developed by third parties. As we do not own or produce such third party content or networks, we cannot be responsible for it, or its effect on the Toba tokens in any way.
14.6 In addition, due to the nature of the Internet and technology, the Toba tokens are provided on an “as available” and “as is” basis. This means that we are unable to promise that your access to the Toba token will be uninterrupted, without delays, error-free or meet your expectations and we do not give any commitment relating to the performance or availability of the Toba tokens in these Terms and Conditions and, to the extent we are able to do so, we exclude any commitments that may be implied by law.
14.7 In the event of a claim arising out of the issue of the Toba tokens, our responsibility to you will never be more than the Purchase Price you have paid on your initial purchase or the current price of which ever is the lowest out of the two and, in the event that you have not paid them or us any money, we shall have no responsibility whatsoever to you.
14.8 In every case, we will never be responsible for any loss or damage that is not reasonably foreseeable, or that is caused by a failure by you to comply with these Terms and Conditions.
14.9 The above does not affect your rights under the applicable law of the country in which you are resident, including our responsibility to you for any personal injury or death caused by our negligence.
15.1 If you have a dispute with us relating to the issue of Toba tokens, in the first instance please contact us at email@example.com and attempt to resolve the dispute with us informally.
15.2 In the unlikely event that we have not been able to resolve a dispute informally, we will discuss and agree with you the most effective way of resolving our disputes.
15.3 If you have purchased Toba tokens as part of your profession or trade or on behalf of a company, we will refer any disputes to arbitration if we are unable to resolve a dispute within 90 days of you giving us notice of the dispute. This arbitration will:
A. be conducted on an individual basis and not part of a class arbitration, class action or any other representative proceeding;
B. be conducted under the Rules of the London Court of International Arbitration in force on the date the arbitration is commenced (which are deemed incorporated by reference into this paragraph 15.3);
C. consist of 3 arbitrators, with one selected by us, one by you and the presiding arbitrator to be nominated by the arbitrators selected by you and us;
D. be conducted in English,
and any award made in the arbitration will be final and binding from the day it is made.
16.1 We may revise these Terms and Conditions from time to time but the most current version will always be on the Website.
16.2 Changes will usually occur because of changes in the law or where we need to clarify our position on something.
16.3 Normally, we will try to give you some warning before any new terms become effective. However, sometimes changes will need to be made immediately and if this happens we will not give you any notice.
16.4 If you have already paid for and been issued Toba tokens, any changes to these Terms and Conditions will not affect the terms on which you purchased Toba tokens from the exchange from which you initially purchased your Toba tokens.
17.1 The version of the Terms and Conditions that applied when you entered into an agreement to buy Toba tokens from the Exchange will be the only terms and conditions that apply to our relationship with you until such a time that you purchase products with the tokens on our own website and application.
17.2 We intend to rely on these Terms and Conditions as setting out the written terms of our agreement with you for the issue of Toba tokens. If part of these Terms and Conditions cannot be enforced, for instance if it is judged to be illegal or unenforceable, then the remainder of the Terms and Conditions will still apply to our relationship.
17.3 If you do not comply with these Terms and Conditions and we do not take action immediately, this does not mean we have given up any rights we have and we may still take action in the future.
English law will apply to all disputes and the interpretation of these Terms and Conditions. The English courts will have non-exclusive jurisdiction over any dispute arising from or related to the issue of the Toba tokens to you. This does not, however, affect your rights under the law of the country in which you are resident, including (where applicable) your right to have a dispute in relation to the issue of the Toba tokens heard in the courts of that country.