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TERMS AND CONDITIONS

The following Terms and Conditions (“Terms”) govern the use of the Amate open source software platform (“Amate Platform”). Prior to any use of the Amate Platform, the User confirms to understand and expressly agrees to all of the Terms. All capitalized terms in this agreement will be given the same effect and meaning as in the Terms. The group of developers and other personnel that is now, or will be, employed by, or contracted with, is termed the “Amate Team.” The Platform will be developed by persons and entities who support Amate, including both volunteers and developers who are paid by nonprofit entities interested in supporting the Amate Platform.

The user acknowledges the following serious risks to any use the Amate Platform and AMA and expressly agrees not to hold liable Amate Team should any of these risks occur:

Risk of Regulatory Actions in One or More Jurisdictions

The Amate Platform and AMA could be impacted by one or more regulatory inquiries or regulatory action, which could impede or limit the ability of Amate Team to continue to develop the Amate Platform, or which could impede or limit the ability of User to use Amate Platform or AMA.

Risk of Alternative, Unofficial Amate Networks

It is possible that alternative Amate-based networks could be established, which utilize the same open source code and open source protocol underlying the Amate Platform. Although being developed with patented technology, the Amate network may compete with these alternative Amate-based networks, which could potentially negatively impact the Amate Platform and AMA.

Risk of Insufficient Interest in the Amate Platform or Distributed Applications

It is possible that the Amate Platform will not be used by a large number of external businesses, individuals, and other organizations and that there will be limited public interest in the creation and development of distributed applications. Such a lack of interest could impact the development of the Amate Platform and potential uses of AMA. It cannot predict the success of its own development efforts or the efforts of other third parties.

Risk that the Amate Platform, As Developed, Will Not Meet the Expectations of User

The User recognizes that the Amate Platform is under development and may undergo significant changes before release. User acknowledges that any expectations regarding the form and functionality of the Amate Platform held by the User may not be met upon release of the Amate Platform, for any number of reasons including a change in the design and implementation plans and execution of the implementation of the Amate Platform.

Risk of Security Weaknesses in the Amate Platform Core Infrastructure Software

The Amate Platform rests on open-source software, and there is a risk that the Amate Team, or other third parties not directly affiliated with the Team, may introduce weaknesses or bugs into the core infrastructural elements of the Amate Platform causing the system to lose AMA stored in one or more User accounts or other accounts or lose sums of other valued tokens issued on the Amate Platform.

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 advance over time Advances in code cracking, or technical advances such as the development of quantum computers, could present risks to cryptocurrencies and the Amate Platform, which could result in the theft or loss of AMA. To the extent possible, Amate Team intends to update the protocol underlying the Amate Platform to account for any advances in cryptography and to incorporate additional security measures but cannot it cannot predict the future of cryptography or the success of any future security updates.

Risk of Rapid Adoption and Increased Demand

If the Amate Platform is rapidly adopted, the demand for AMA could rise dramatically and at a pace that exceeds the rate with which AMA miners can create new AMA tokens. Under such a scenario, the entire Amate Platform could become destabilized, due to the increased cost of running distributed applications. In turn, this could dampen interest in the Amate Platform and AMA. Instability in the demand of for AMA may lead to a negative change of the economical parameters of an Amate based business which could result in the business being unable to continue to operate economically or to cease operation.

Risk of Rapid Adoption and Insufficiency of Computational Application Processing Power on the Amate Platform

If the Amate Platform is rapidly adopted, the demand for transaction processing and distributed application computations could rise dramatically and at a pace that exceeds the rate with which AMA miners can bring online additional mining power. Under such a scenario, the entire Amate Platform could become destabilized, due to the increased cost of running distributed applications. In turn, this could dampen interest in the Amate Platform and AMA. Insufficiency of computational resources and an associated rise in the price of AMA could result in businesses being unable to acquire scarce computational resources to run their distributed applications. This would represent revenue losses to businesses or worst case, cause businesses to cease operations because such operations have become uneconomical due to distortions in the crypto-economy.

Acknowledgment, Acceptance of all Risks and Disclaimer of Warranties and Liabilities. The user expressly knows and agrees that the user is using the Amate platform at the user’s sole risk. The user represents that the user has an adequate understanding of the risks, usage and intricacies of cryptographic tokens and blockchain-based open source software, AMA platform and AMA. The user 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 risks of, use of, or inability to use, AMA or the Amate 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 Amate team shall be liable for any indirect, incidental, special, exemplary or consequential damages, including for loss of profits, goodwill or data. 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 may not apply to a user. In particular, nothing in these terms shall affect the statutory rights of any user or exclude injury arising from any willful misconduct or fraud of Amate.

Dispute Resolution

All disputes or claims arising out of, relating to, or in connection with the Terms, the breach thereof, or use of the Amate 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, AMA owners sounding 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 Singaporean resident. 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 Singaporean resident. 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 Singapore. The language of the arbitration shall be English. In deciding the merits of the dispute, the tribunal shall apply the laws of Singapore 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 compositor 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

AMATE is finally not liable for:

  • unavoidable casualty,
  • delays in delivery of materials,
  • embargoes,
  • government orders,
  • acts of civil or military authorities,
  • lack of energy, or
  • any similar unforeseen event that renders performance commercially implausible.