SUPPLEMENTAL TERMS – Termination of Account

1. Introduction

1.1 These supplemental terms (the “Supplemental Terms”) supplement the Terms of Service for the Platform provided by Bybit Fintech Limited (the “Company”, “we”, “us” or “our”) found at https://www.bybit.com/app/terms-service/information (the “Terms of Service”).

 

1.2. If you apply for an Account through our Site, you agree that you will be legally bound by these Supplemental Terms together with our Terms of Service (collectively, the “Terms”).

 

1.3. To the extent of any inconsistency between these Supplemental Terms and our Terms of Service, these Supplemental Terms shall prevail.

 

1.4. Save as defined below, all terms and references used in these Supplemental Terms shall have the meaning given to them in our Terms of Service.

2. Account Termination

2.1. You acknowledge and agree that we have the right to terminate your Account at our sole discretion, including but not limited to the following reasons: 

1. where we, in our reasonable opinion, are required to do so to comply with any legal and regulatory obligations now existing or hereinafter imposed;

2. where we reasonably suspect that you are acting in breach of any provision of the Terms;

3. where your Account has been inactive or dormant for a protracted period;

4. any reasons set out in Section 23 of the Terms of Service; or

5. any other circumstances under which you breach the Terms.

 

2.2. You further understand, acknowledge, and agree that: 

1. the list of circumstances set out in Section 2.1 above of when we may terminate your Account is a non-exhaustive list;

2. our decision to terminate your Account for any reason in our sole discretion may be based on confidential criteria that are essential to our risk management and security protocols, and that we are under no obligation to disclose the details of our risk management and security procedures to you; and

3. we have the right to take any and all necessary and appropriate actions pursuant to these Terms, including but not limited to recovering reasonable costs, and in accordance with any applicable laws and regulations.

 

2.3. In the event your Account is terminated:

1. any open trades, positions, instructions, or transactions associated with your Account may be closed by you or by us, depending on the circumstances of the termination;

2. where practicable and to the extent that it is not unlawful for us to do so, we may provide you with notice of the termination of your Account, and you may withdraw the Digital Assets and/or fiat currencies (after paying the outstanding amounts owed to us, including any Transaction Fees and/or Termination Fee (as defined below in Section 3.1)) from your Account within the period as specified by us to you, prior to the termination of your Account; and

3. where you fail to withdraw your Digital Assets and/or fiat currencies, or if you have not accessed your Account within the specified period notified to you, you acknowledge and agree that we have the right and you authorise us to deduct the Termination Fee from your Account, or forfeit the remaining balances in your Account (where the Account balance is less than the Termination Fee), and proceed to terminate your Account.

 

 

3. Fees Applicable to Termination of Account

3.1. We will charge a termination fee of 10 USD (“Termination Fee”) for the termination of an Account. Where the balance in your Account is insufficient to pay the Termination Fee (i.e. the value of the Digital Assets and/or fiat currencies in your Account is less than 10 USD), all remaining balances in your Account will be forfeited upon termination of your Account.

 

3.2. You acknowledge and agree that:

1. we may charge you an administrative fee for the Termination Fee in connection with the termination of your Account, and that the Termination Fee is a fee payable by you in addition to any outstanding amounts owed to us by you;

2. upon the termination of your Account, you authorise us:

   1. to set-off the Termination Fee (i.e. 10 USD or the equivalent amount of Digital Assets and/or fiat currencies) directly from any assets in your Account without prior notice or approval; and

   2. (where applicable) to forfeit all the remaining balance in your Account where the balance in your Account is insufficient to pay the Termination Fee (i.e. the value of the Digital Assets and/or fiat currencies in your Account is less than 10 USD).

 

3.3 We may adjust the Termination Fee or impose any other applicable fees in connection with the termination of your Account from time to time in accordance with Section 2.1 of our Terms of Service.

4. Retention of Data

4.1. You acknowledge and agree that upon the termination of your Account, your personal data might not be permanently deleted and we reserve the right to retain your personal data, where such retention may be necessary for legal, regulatory compliance, accounting, or business purposes.

5. Liability

5.1. You acknowledge and agree that:

1. we shall not be liable for any loss you may incur from the termination of your Account, and that you will not hold us liable for any loss arising from any action taken in connection with the termination of your Account, including but not limited to those described under Sections 2 and 3 above;

2. where we convert the Digital Assets and/or fiat currencies in your Account to a different type of Digital Asset and/or fiat currency for the payment of the Termination Fee or any other applicable fees in connection with the termination of your Account, we shall not be liable for any loss of profit, tax obligations or any other loss, damage or expense incurred by you resulting from such conversion; and

3. the termination of your Account does not affect any of your rights and obligations as a User that arose before termination. You shall still be liable for any possible breach of the Terms or damages that may arise due to or in connection with your conduct during the time when you use the services provided by us.