§ 1. About This Information

This Document (the “Withdrawal Information”) provides consumers resident in the European Union, within the meaning of Art 2(1) Directive 2011/83/EU, with information on the right to withdraw from a contract entered into with Cuverse Limited (“Cuverse”), and on the procedure for exercising it.

(1) Applicability. This Withdrawal Information applies to Customers who simultaneously:

• are natural persons acting for purposes that are not connected with their commercial activity (consumers);
• are residents of a Member State of the European Union;
• enter into the Mining Hardware Hosting Agreement or the Mining Service Agreement by means of a distance contract through the Cuverse website.

(2) Non-Applicability. This Withdrawal Information does not apply to B2B Customers, to Customers from outside the EU, or to US Customers.

§ 2. Right of Withdrawal — General Information

(1) Right Description. In accordance with Art 9 Directive 2011/83/EU, a consumer resident in the EU who has entered into a distance contract has the right to withdraw from it within 14 (fourteen) calendar days of the conclusion of the contract, without giving any reason and without penalty.

(2) Calculation of Period. The 14-day period is calculated:

• in the case of a contract for the provision of services — from the day of the conclusion of the contract (i.e. from the moment of Cuverse’s acceptance of the Customer’s offer);
• in the case of a contract for the supply of goods — from the day on which the Customer or a third party indicated by the Customer takes physical possession of the goods.

In the case of the Mining Hardware Hosting Agreement and the Mining Service Agreement, the rule for services applies, as the principal element of the relationship is the provision of hosting services or of computing power.

(3) How to Exercise. In order to exercise the right of withdrawal, the Customer shall send Cuverse an unequivocal statement of the Customer’s decision to withdraw from the contract. This may be done:

• by means of the withdrawal form set out in § 5 of this Withdrawal Information;
• by means of any other unequivocal written statement, sent by email to [email protected] or by post to Cuverse’s postal address;
• through the corresponding function in the dashboard, where such function is provided.

It is sufficient that the statement of withdrawal is sent before the expiry of the 14-day period.

(4) Consequences of Withdrawal. In the event that the Customer exercises the right of withdrawal:

• Cuverse shall reimburse the Customer all payments received from the Customer (save in the cases described in § 3) without undue delay and no later than 14 days following receipt of the Customer’s notice of withdrawal;
• the reimbursement is made using the same means of payment as that used by the Customer for the original payment;
• the reimbursement is not accompanied by any additional cost for the Customer.

§ 3. Important: Waiver of Withdrawal Right

(1) Standard Waiver Practice. In accordance with the standard practice of Cuverse, the Customer, upon entering into the Mining Hardware Hosting Agreement or the Mining Service Agreement through the website, expressly waives the 14-day right of withdrawal in exchange for the immediate commencement of the provision of services.

This waiver is confirmed by the Customer at the time of placing the order through agreement with the corresponding terms of the contract (§ 3(13) of the Mining Hardware Hosting Agreement or § 3(9) of the Mining Service Agreement).

(2) Legal Basis. The said waiver is based on Art 16(a) Directive 2011/83/EU, which permits a consumer to waive the right of withdrawal in respect of contracts for the provision of services that are fully performed, or commenced with the consumer’s express prior consent and the consumer’s acknowledgment of the loss of the right of withdrawal.

(3) Effect of Waiver. Following the giving of the waiver of the right of withdrawal, the Customer is not entitled to exercise the 14-day right of withdrawal from the contract. Cuverse commences the provision of services (the installation of the Mining Hardware in the Data Center, the activation of the Service Package) immediately following acceptance of the contract and payment by the Customer of the Purchase Price or the Package Price.

(4) Pre-Service Period. In the period between the acceptance of the contract and the moment of actual commencement of the provision of services (for example, during the period of delivery of the Mining Hardware to the Data Center in Hosting Mode), Cuverse considers requests for the cancellation of the order on an individual basis, including having regard to costs actually incurred by Cuverse. Details are set out in the Refund Policy.

(5) Why Waiver is Standard. The standard waiver of the right of withdrawal applies for the following reasons:

• the Cuverse services begin to be provided immediately upon entry into the contract;
• the subsequent cancellation of services after the commencement of their provision would lead to material operational difficulties and losses for Cuverse;
• the standard practice of the industry (cloud services, hosting providers, SaaS, digital content) provides for an analogous waiver for all customers;
• a Customer wishing to retain the right of withdrawal may, on an individual basis, be offered alternative terms with a delayed commencement of the provision of services.

§ 4. Exceptions to Withdrawal Right Under EU Law

In addition to the waiver described in § 3, the right of withdrawal under Directive 2011/83/EU does not apply in the following cases expressly provided for in Art 16 of the Directive:

• services the performance of which has been fully completed within the 14-day period with the Customer’s express consent (Art 16(a));
• the supply of goods made or selected to the Customer’s specifications or clearly personalised for the Customer (Art 16(c));
• the supply of goods the price of which is dependent on fluctuations in the market that cannot be controlled by the trader (Art 16(b));
• other cases listed in Art 16 of the Directive.

In respect of the Mining Hardware Hosting Agreement and the Mining Service Agreement, the basis under Art 16(a) primarily applies, as described in § 3.

§ 5. Model Withdrawal Form

In accordance with Annex I(B) to Directive 2011/83/EU, a Customer wishing to exercise the right of withdrawal (where such right has not been replaced by a waiver pursuant to § 3) may use the following standard form:

MODEL WITHDRAWAL FORM

Complete and return this form only if you wish to withdraw from the contract.

To: Cuverse Limited, 7/F, MW Tower, 1 Bonham Strand, Sheung Wan, Hong Kong. Email: [email protected]

I/We () hereby give notice that I/We () withdraw from my/our () contract of sale of the following goods () / for the provision of the following service (*):

Ordered on () / received on () (date): ________________________________________

Name of consumer(s): ________________________________________

Address of consumer(s): ________________________________________

Signature of consumer(s) (only if this form is notified on paper):

Date: ________________________________________

(*) Delete as appropriate.

§ 6. Contact Information

For matters relating to the right of withdrawal, the Customer may contact:

• Email: [email protected]
• Postal address: Cuverse Limited, 7/F, MW Tower, 1 Bonham Strand, Sheung Wan, Hong Kong
• Dashboard: through the “Support” section, following authentication on the Platform.

§ 7. Acknowledgment by Customer

A consumer Customer from the EU, in placing an order through the Cuverse website, confirms that the Customer:

• has reviewed this Withdrawal Information in its entirety prior to entering into the contract;
• understands the 14-day right of withdrawal provided for in Directive 2011/83/EU;
• understands that Cuverse commences the provision of services immediately following acceptance of the contract and payment;
• expressly waives the 14-day right of withdrawal in exchange for the immediate commencement of the provision of services in accordance with § 3 of this Withdrawal Information and the corresponding provisions of the Mining Hardware Hosting Agreement or the Mining Service Agreement;
• understands the consequences of the said waiver.

This confirmation is recorded in the Customer’s Account at the time of acceptance of the principal agreement.