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Terms and Conditions

INTERPRETATION

In this Agreement, unless otherwise expressly stated or if the context requires otherwise, the following terms shall have the meanings set out below:

  • “Agreement” means these terms and conditions, any account-opening documentation (including an electronic registration you complete when applying for a Tiips Account) and any other documents, terms and conditions, or policies which are expressly stated by Tiips to form part of the agreement between us and you;
  • “Tiips Account” means the electronic record of:
    1. gold that you own, identified by quantity in mg and stored in a segregated company account;
    2. payments to and from us in relation to the purchases, sales and withdrawals of gold and any other transactions between you and us under this Agreement through FPS or Credit Card
  • “Customer”, “you” or “your” means a person who has registered and has been accepted by us for a Tiips Account on the Tiips Mobile App including satisfactorily completing the applicable verification requirements in accordance with this Agreement;
  • “Force Majeure” means any circumstance, act, or event beyond our reasonable control, including (but not limited to) any:
    1. lock outs, strikes or other industrial disputes (in each case, whether or not relating to our workforce and whether or not beyond our reasonable control);
    2. changes to applicable laws, acts, or regulations of any governmental or supranational bodies or authorities;
    3. breakdown, failure, malfunction, or hacking of telecommunications or computer services or systems (including the internet) including, without limitation, any third party services or systems or acts of hackers;
    4. unusual volatility in the market, hacking, Denial of Service (DoS) attack, deliberate market distortion or manipulation, and disruptions to trading or the trading price;
    5. act of God, fire, act of government or state, terrorist act, war, civil commotion, insurrection or embargo, earthquake, nuclear incident, floods, volcanic action;
    6. inability to communicate with brokers or market makers for whatever reason or late or mistaken delivery or payment by any bank or counterparty;
    7. prevention from or hindrance in obtaining any energy or other supplies; and
    8. any other reason (whether or not similar in kind to any circumstance, act or event described in (a) to (g) above).
  • “Tiips”, “we”, “us”, or “our” means Tips Dollar (HK) Limited, a company incorporated in Hong Kong with its registered address at Lion Rock 72, 1/F, InnoCentre, 72 Tat Chee Avenue, Kowloon, Hong Kong;
  • “Tiips Platform” means the Tiips website accessible at www.tiips.com amended from time to time (the “Website”), the Tiips Application Programming Interface (“API”), and any associated Tiips-hosted websites or mobile applications (“Mobile App”) (collectively the “Tiips Platform”);
  • “Tiips Services” means any and all of the services provided to you through the Tiips Platform and includes the use of the Tiips Platform;
  • “Password” means the string of at least eight (6) characters in length that you may use to access your Tiips Account;
  • “Privacy Notice” means the privacy notice of Tiips that is available on the Tiips Website (as amended from time to time);
  • “Promotional Balances” means the balance in your Tiips Account resulting from your participation in any Tiips promotions including lucky draws, festive campaigns and the use of promotional codes;
  • “Vault” means the location where gold is physically stored pursuant to an agreement entered into by or on behalf of Tiips with a Vault Operator;
  • “Vault Operators” means one or more service providers appointed by us (or our agent) in accordance with clause 8 to store gold on behalf of our customers.

ACCEPTANCE OF AGREEMENT

This Agreement takes effect upon acceptance by the Customer of these terms and conditions during the account opening process through the Tiips Mobile App. The relationship between Tiips and the Customer arising from or in connection with the Customer’s Tiips Account shall be defined and governed by this Agreement.

  1. This Agreement applies to your Tiips Account and your use of:
    the Tiips Platform; and
    • any of the services provided to you by Tiips together with the Tiips Platform (the “Tiiips Services”).

By signing up to use the Tiips Platform through the Tiips Website or Tiips Mobile App, you agree:
that this Agreement will document the contractual relationship between you and us;

    • to be bound by the provisions of this Agreement;
    • to comply with all relevant laws of any territory of which you are a citizen, national, or subject, and of any territory in which you are resident from time to time, and of any other territory from which you access the Tiips Platform, the laws of the countries in which the Vaults are located (where applicable), and including, without limitation, the laws of Hong Kong; and
  2. You understand, acknowledge and agree that:
    • the gold recorded in your Tiips Account is held by Tiips as custodian and is stored in a Vault;
    • if you register and hold a Tiips Account, the total value of all your transactions (buying and selling gold) is limited to a minimum of HKD200.
    • you may withdraw funds to your personal bank account with your Tiips Account. However, your funds withdrawal is subject to a transaction cost of HKD 2 together with account balance equal or larger than HKD 3 on gold price on market to market basis
    • you may purchase gold up to a limit of HKD 50,000 per month. Such limit may be varied from time to time at the discretion of Tiips, without prior notice to you.
    • You may not purchase crypto-currencies
    • you are entitled to use a promotion code at the discretion of Tiips. For the avoidance of doubt, if you have used a promotion code to claim a reward, you are not eligible to use any other code to claim another reward.
    • any money credited to your Tiips Account is not a deposit with or loan to us and your Tiips Account is not a bank account and will directly purchase the equivalent amount of gold.
    • any gold balance incorrectly credited to any of your Tiips accounts shall be subject to a clawback or recoupment policy currently in effect or as may be adopted by Tiips. Such a decision is at the sole discretion of Tiips.
    • There will be no money standing or credit balance towards your Tiips Account. Any money represents payment for gold that you intend to purchase under this Agreement and Tiips is authorized without any further action required from you and without prior notice to you to convert such money to gold, at a price and subject to fees determined under clauses 6 and 8, at any time and from time to time
    • the gold in your Tiips Account is insured under insurance policies arranged by the Vault Operators and are not insured by Tips Dollar (HK) Limited.
    • you are only allowed one Tiips account per mobile phone and per mobile phone number and it is your responsibility to retain control of your mobile number. If you change your phone or phone number, then you are to delete the Tiips app and re-install the same onto your new phone. It is your duty and obligation to inform us if your mobile phone is lost or stolen. Tiips reserves the right to close the account(s) where there is duplication of transactions on different phones. Tiips reserves the right to close accounts which are dormant and/or lock accounts whenever necessary.
    • it is your responsibility to verify the email address and or details of the person you are sending gold to, and also to approve yourself as a gift contact via email or other means determined by Tiips as appropriate.
    • the Tiips account can be operated on most Android devices and iOS devices subject to any restrictions or settings applicable to the devices.
    • except as required by law, no person shall be recognized by Tiips as holding any gold under this Agreement upon any trust, whether, express, implied or constructive, and Tiipsp shall not be bound by or be compelled in any way to recognize (even when having notice thereof) any equitable, contingent, future, or partial interest in your Tiips Account except an absolute right to the entirety of the Tiips Account.
  3. You acknowledge that the Tiips Platform and the Tiips Services do not constitute any “regulated activity” under the SFO, trading of, or an exchange in, securities, investment contracts or any document, instrument or writing commonly known as a “security” or “derivative”, at law or otherwise.
  4. You understand that you may only purchase or sell gold through your Tiips Account by way of:
    • transfers to, or from, a personal bank account, in your own name which you have linked to your Tiips Account; or
    • Purchase gold via credit card with your own name to Tiips Account; or
    • physical withdrawals of gold as described in clause 9
    • Sell gold and deposit your fund into your bank account via FPS;
  5. You understand that you may ONLY SELL crypto-currencies through your Tiips Account by way of:
    • transfers to, or from, a personal bank account, in your own name which you have linked to your Tiips Account; or
    • Sell crypto-currencies and deposit your fund into your bank account via FPS;
  6. To be eligible to use the Tiips Services, you must be at least 18 years old or the applicable age of majority and contractual capacity if you reside in a jurisdiction where the age of majority or contractual capacity is above 18 years of age. By accessing or using the Tiips Services, you represent and warrant that you are both over the age of 18 years old and of the applicable age of majority and contractual capacity in the jurisdiction in which you reside.

COMMUNICATIONS

Communications between you and Tiips may be conducted by mail or by telephone, online, or by other electronic means that we offer from time to time. Any instructions that you give to us in any such manner will have the same legal effect as if you gave them to us in traditional written form. You agree that all telephone calls and electronic communications may be recorded and kept by us as a record of your instructions.
  1. You are responsible for the accuracy of your instructions for all transactions in your Tiips Account and through the Tiips Platform. Instructions once sent, in any form acceptable under the Tiips Platform in relation to your Tiips Account, are final and irrevocable. It is your responsibility to ensure that your personal information registered on the Tiips Platform is accurate at all times.
  2. You agree to promptly review the transaction history and any account information pertaining to your Tiips Account to ensure that your instructions have been carried out and that there have been no unauthorized dealings in your Tiips Account. You must inform us of any errors or omissions within seven (7) calendar days of the disputed transaction(s).

CUSTOMER DUE DILIGENCE

You agree to provide Tiips with such information as Tiips may require or request, in its discretion, in relation to this Agreement and your relationship with Tiips, including all information required to comply with all applicable laws and regulations, including all applicable anti-money laundering rules and regulations.
  1. Without prejudice to the generality of the foregoing, you must provide a valid mobile number, email and/or such other identifying and verifying information or documents as we determine from time to time in our discretion (the “Client Verification”) at a time to be determined by us, including prior to opening a Tiips Account, prior to funding your Tiips Account, prior to purchasing gold or withdrawal of any gold or money in your Tiips Account, upon your funding reaching a certain level prescribed by us, or at any other time at our discretion.
  2. You agree that Tiips is entitled to perform a background check prior to approving your application to open a Tiips Account or at any other time during the course of the relationship at our discretion. You further consent to Tiips to obtain information about you for purposes of confirming your identity under applicable “know-your-customer” rules. You understand that failure to provide any of the information we request from time to time under such rules may result in your Tiips Account being frozen and/or terminated without any notice to you.
  3. You represent and warrant to us at all times that, to the best of your knowledge, any information provided to us by you is complete, accurate, and not misleading in any material respect and you agree to notify us should such information change.

SECURITY AND PRIVACY

To protect your privacy and information about your Tiips Account and access to your account, when you open a Tiips Account, you must create a Password. Unless you enter the correct Password upon logging in to your Tiips Account, we are unable to take your instructions regarding your Tiips Account. You are responsible for, and give us your authorization to carry out, all instructions given to us online where and when your correct Password is entered to access your Tiips Account. Tiips will not be liable to you for any loss or claim arising out of our relying on oral or electronic instructions provided to us using your Password.
  1. You accept that it is your responsibility to keep your Password confidential. You alone are responsible for your Password security. When you give us instructions by cellular phone, email, or other non-secure methods, including instructions sent through the Mobile App, we cannot guarantee confidentiality because third parties can intercept those methods of communication. If you suspect that any other person has become aware of your Password, you must immediately notify us in writing by email or via the Tiips Application customer service chat and you agree to cooperate with us in any subsequent investigation. Until you notify us, you will be liable for all transactions that are made using your Password. In addition to Passwords, you may be required to adopt other security measures that we make available to protect the security of your information.
  2. You must exercise safe security practices when accessing and conducting electronic transactions. This includes signing out and closing any online electronic transaction services once all transactions have been completed regardless of your method of accessing the Tiips Platform. You must also maintain any security measures that we recommend relating to requirements for encryption technology, virus scanning, software, firewall systems, anti-spyware software, cybersecurity measures and similar safeguards to maintain security for all electronic transaction activities.
  3. Tiips does not store Passwords on the backend, only on the user’s phone; consequently only one device can be used by a user for one account at any point in time.
  4. Every network communication with Tiips servers is secured by the Transport Layer Security (TLS) protocol.
  5. Tiips maintains the master copy of ownership records. Records relating to you and your Tiips Account will only be modified upon the execution of your valid instructions, in accordance with the terms of this Agreement.
  6. On a regular and frequent basis, but no more frequently than daily, Tiips will publish reconciled and anonymized customer-by-customer records of ownership of all the bullion in the vaults held by customers to both internal and independent external sources.
  7. Tiips ensures that at least two widely separated data storage sites receive duplicates of the full Tiips database.

PRICE

You agree that the price for any purchase or sale of gold for any transaction within your Tiips Account will be based on the Best Bid or Offer (“BBO”) as calculated by our pricing engine. The pricing engine, among other things, collects and distributes real-time gold prices from its bullion counterparties quoting bids and offers for the purchase or sale of physical gold bullion from each respective Bullion Provider Tiips transacts with. You accept that the BBO is determined at Tiips’s sole and absolute discretion taking into account all factors it deems relevant, including without being limited to the prevailing world and local market conditions for gold, the exchange rate between United States Dollar (or any other foreign currency adopted) and Hong Kong Dollar and the gold fineness. Every gold transaction in your Tiips Account is executed at the BBO plus the current prevailing fee published on the Tiips Platform if applicable.
  1. Physical deliveries of gold are subject to a processing fee payable from your Tiips Account if applicable. Taking possession of physical gold may incur shipping and insurance surcharges which will be confirmed with you in advance.
  2. Storage fees may apply for gold stored with the Vault Operators, at rates prescribed by Tiips from time to time.
  3. You are entitled to refund of any purchase made within seven (7) days but shall remain liable for any fluctuation in gold prices and administrative fees.

GOLD QUALITY, PURITY, AND AUDITING

  1. Tiips takes only assayed bullion bars as good delivery from recognized counterparties, bullion-dealers, and bullion-banks according to best industry-practices which exist in the market.
  2. All physical gold purchased by you will be stored at a Vault Operator upon purchasing the gold in your Tiips Account.
  3. All physical gold purchase by you is not less than 99.5% purity and of a weight and manufacturer accepted by the global bullion markets such as CGSE or other globally recognized bullion markets.
  4. Tiips accounting units of gold, in accordance with standard bullion-market practice, are expressed in fine gold content. The fine gold content of each bar is its weight multiplied by its purity. The resulting units of gold applied on your Tiips Account are 99.99% pure gold content (fine gold) of a 99.5% (or greater) assayed bullion bar denominated in grams and milligrams (1gram = 1000 milligrams).
  5. Tiips confirms that it has obtained a representation from its gold bullion counterparties that every gram of gold purchased by Tiips for Tiips Accounts is a gram of the 99.99% pure gold content (fine gold) of a 99.5% (or greater) assayed bullion bar held in the relevant Vault.

STORAGE AND INSURANCE of Gold

  1. You authorize us to arrange for the storage, transportation, and insurance of your gold. We will hold your gold as bailee and appoint Tiips Service Limited, or any of its affiliates (“TSL”), as our agent, to enter into storage agreements with gold vault operators selected by Tiips in its sole discretion (a “Vault Operator”).
  2. All storage agreements with Vault Operators are entered into by TSL.
  3. Any storage agreement entered into by TSL with a Vault Operator provides that gold allocated under the storage agreement will be specifically identified and physically segregated at all times.
  4. You authorize us to act as bailee and to provide instructions to the Vault Operator and insurance company in such capacity under the terms of the bailment.
  5. Notwithstanding any other term, neither Tiips nor TSL is responsible for the physical storage and safekeeping of your gold bullion. That responsibility lies with the Vault Operator. Beyond committing to ensure adequate insurance is in place in relation thereto, as set forth in clause 8.6 below, neither Tiips nor TSL has any responsibility or liability relating to the storage of gold.

STORAGE AND INSURANCE of crypto-currencies

  1. Your crypto-currencies shall not covered by any insurance policy.
  2. Your crypto-currencies shall stored in cold wallet keep by Tips Dollar (HK) Limited.

FEES AND LIMITS

  1. You may, by initiating a withdrawal request via the Tiips Platform, together with such identifying information as requested by Tiips and on behalf of the Vault Operator, at any time request physical delivery of your gold for your pick up, provided that you hold sufficient gold (as specified in clause 9.2) and subject to the withdrawal limits described below.
  2. Physical withdrawals of gold are subject to a minimum quantity in the form of whole grammes and a minimum of 50 grammes when making a physical withdrawal request through the Tiips Platform. Physical withdrawals of gold may be subject to daily maximum withdrawal limits. You are responsible for the payment of any insurance, delivery, and transportation fees, which will be advised to you and agreed with you in advance.
  3. You may sell the gold in your Tiips Account by transferring funds to your personal bank account via FPS. The gold in your Tiips Account will then be sold at the prevailing market price at the time of the withdrawal pursuant to clause 6. The transfer of funds between your Tiips Account and your personal bank account may be subject to DBS Bank FPS system and usually take place in the next business day.
  4. Tiips reserves the right to reject any incoming or outgoing wire. Outgoing wire instructions may be rejected if the details provided are insufficient, the receiving institution cannot be identified, it is uneconomical to do so, the currency is not one of currencies accepted by Tiips from time to time or if there are insufficient net funds in the Tiips Account. Incoming wire transfers will be rejected if they are sent from a third party or from a bank in a country which Tiips deems to pose a high risk.

PROMOTIONAL BALANCES

  1. Promotional Balances are equal in value and redemption rights to traditional Tiips balances in your Tiips Account.
  2. Tiips may disqualify a Tiips Account holder from a promotion and/or claim back Promotional Balances if it believes, in its absolute discretion, that their Tiips Account or subsequent referred Tiips Accounts have been set up to abuse the promotion or if you are otherwise in breach of this Agreement or the terms and conditions of the promotion. Tiips reserves the right to suspend, modify or terminate a promotion at any time and without prior notice.
  3. Tiips reserves the right to validate referred Tiips Accounts which must meet the terms outlined in clause 2 and may withhold Promotional Balances for up to sixty (60) days.
  4. You agree not to send a Tiips invitation template to anyone with whom you do not have a personal relationship. Sending your invitation to persons who you do not have a personal relationship with will constitute spamming and may result in a suspension of your Tiips Account.
  5. Employees of Tiips and family members of employees are excluded from participating in any promotional exercises.
  6. Details of any promotional campaigns will be published on the Tiips Platform and we reserve the right to amend the details by updating the same on the Tiips Platform.

LIMITATION OF LIABILITY; NO WARRANTIES

  1. Tiips, its agents, employees, or officers, shall under no circumstances be liable:
  2. to you, whether in contract, tort, breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with this Agreement;
  3. for any special, general, direct, indirect, incidental or consequential damages, even if we had been advised of the possibility thereof;
  4. for any fees, duties, taxes, or loss as a result of theft or any other loss of gold after it has been removed from the Vault at your request for delivery or collection;
  5. for any damages resulting from latent defect, loss of data or loss of profits;
  6. for any damages resulting from any of your instructions not being sufficiently clear or any failure by you to provide correct or requested information;
  7. for any loss as a result of risks associated with online trading, including software and hardware failure latent defect, loss of data, delays, failure, errors, omissions, or losses of transmitted information or instructions, power outages, internet failure, hackers, denial of service (DoS) attacks, viruses, or other contaminating or destructive properties;
  8. for any penalties, fees, interest, costs or damages imposed upon or incurred by you with respect to any transfers or payments, or for our inability to retrieve electronic payments from accounts held at financial institutions.
  9. Tiips will not be in breach of this Agreement or otherwise liable for any loss suffered or incurred as a result of any delay in performance or any non-performance of any obligations under this Agreement (and, where relevant, the time for performance will be extended accordingly) if and to the extent that the delay or non-performance is owing to:
  10. Force Majeure; or
  11. neglect, serious fault or wilful misconduct on the part of you including any failure to keep your Password secure and any failure to comply with this Agreement or associated policies.
  12. In case of Force Majeure, we will use our reasonable endeavours to mitigate the effect of the Force Majeure and to carry out our obligations under this Agreement in any other way that is reasonably practicable. We will, as soon as reasonably practicable, notify you of the nature and extent of the circumstances giving rise to Force Majeure. If the Force Majeure in question prevails for a continuous period in excess of six (6) months after the date on which the Force Majeure begins, you shall be entitled to give notice to us to terminate this Agreement in accordance with clause 13.
  13. In the case of market distortion, volatile markets, systems (including third party systems upon which Tiips is reliant) being hacked, and market disruption, Tiips reserves the right to adjust an order if the metal and currency quotes received from Tiips’s data source, when the order was placed, is found to be incorrect. Tiips will contact you if an order needs to be adjusted due to incorrect market data, and you may cancel the order if you do not want to trade on the corrected market rate.
  14. Our total liability to you in respect of any losses arising under or in connection with this Agreement, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall in no circumstances exceed the value of the Tiips Account at the time of the alleged claim, subject always to a maximum liability limit of $1 (One) United States dollars or equivalent.
  15. Information sent over the Internet may not be completely secure and the Internet and related online systems may not function at all times. We are not responsible for any loss or damages you may incur if a third party obtains access to your confidential information transmitted over the Internet or if you are temporarily unable to determine your balance on the Tiips Platform.
  16. If you grant express permission for a third party to connect to your Tiips Account, either through the third party’s product or through the Tiips Services, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. Further, you acknowledge and agree that you will not hold Tiips responsible for, and will indemnify Tiips from, any liability arising from the actions or omissions of this third party in connection with the permissions you grant.
  17. Tiips shall not be responsible for any loss or damages resulting from any failure on your part to conduct appropriate due diligence on parties with whom you choose to deal. You accept that you may make and receive payments from other Tiips users and understand that Tiips does not accept liability for the fraudulent or misleading actions of parties to whom you make and from whom you receive payments. It is your entire responsibility to conduct appropriate due diligence and your choice whether or not to make a payment or agree to receive a payment in return for goods or services.
  18. You will not be held responsible for any fraudulent transactions on your Tiips Account directly resulting from:
    1. fraudulent, or grossly negligent acts committed by us; or
    2. a breach of security of the Tiips Platform except where such transactions resulted from the misuse of your Password.

TO THE FULLEST EXTENT PERMISSIBLE BY LAW, TIIPS DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.

This clause 11 shall survive termination of the Agreement or closure of any Tiips Account.

INDEMNITY

Subject to clause 11 above, except to the extent that it results from Tiips’s gross negligence or wilful default or arises from any contravention or breach by Tiips of any applicable law, you irrevocably and unconditionally agree to indemnify and keep Tiips and its directors, officers, employees, and agents indemnified against any loss, claim, damage, cost, or expense or any other liability whatsoever (including, without limitation, legal fees on a full indemnity basis and all taxes and other duties payable in connection therewith) which may be suffered:

  • in connection with any service provided to you under this Agreement;
  • as a result of your failure to comply with its obligations under this Agreement;
  • in the enforcement of this Agreement; or
  • in connection with any instruction given by you, any transaction effected for you or any service provided to you, including any action properly taken by Tiips or by its agents under this Agreement.
  • The indemnity in this clause 12 shall continue notwithstanding the termination of this Agreement or closure of any Tiips Account.

TERM AND TERMINATION

Subject to clause 13.6, this Agreement will remain in effect and will bind you and us until such time as your Tiips Account is closed. We may, at our absolute discretion, close your Tiips Account and terminate this Agreement by notice to you with immediate effect for any reason whatsoever, including any breach of this Agreement by you or if you become a bankrupt. You may close your Tiips Account and terminate this Agreement by giving written notice to us if your Tiips Account has a nil or zero balance.
  1. Tiips reserves its right to immediately suspend or terminate your access to any or all of the Tiips Services and/or deactivate or cancel your Tiips Account if you are in default, including if
    • Tiips is required to do so by a valid subpoena, court order, or order from a regulatory authority, or otherwise required by law,
    • your Tiips Account is being misused or Tiips suspects that it is being used in furtherance of illegal activity (with or without actual knowledge of the same),
    • you take any action to circumvent Tiips’s controls, including, but not limited to, opening multiple Tiips Accounts or abusing promotions which Tiips may offer from time to time, or
    • if you are in breach of this Agreement.
  2. You will be permitted to transfer the balance in your Tiips Account after ninety (90) days have elapsed following Tiips Account deactivation or cancellation unless such transfer is prohibited by a valid subpoena, court order, order from a regulatory authority, or otherwise prohibited by law. You are responsible for arranging the transfer by way of physical withdrawal of gold or movement of funds to a bank account after your Tiips Account deactivation or cancellation.
  3. You will not be charged for cancelling your account and will only be required to pay for those Tiips Services used that are subject to charges. If any transaction is in a pending state at the time your account is cancelled or suspended, such transaction may be cancelled and/or refunded as appropriate. You may not cancel your account to evade an investigation or avoid paying any amounts otherwise due to Tiips.
  4. Upon suspension or cancellation of your account, you authorize Tiips to cancel or suspend pending transactions and hold the funds associated with such transactions until Tiips is certain that funding reversal windows are complete. In the event that Tiips closes your account or terminates your access to the Tiips Services, or deactivates or cancels your account, you will remain liable for all amounts due hereunder.
  5. Any accrued rights, remedies, obligations and liabilities of the parties as at termination shall not be affected, including the right to claim damages in respect of any breach of the Agreement which existed at or before the date of termination. Any clauses of this Agreement which expressly or by implication have effect after termination shall continue in full force and effect.
  6. In the event that a technical problem causes system outage or account errors, Tiips may temporarily suspend access to your Tiips Account until the problem is resolved.

DEATH OR INCAPACITY

If you die or otherwise become incapacitated, and evidence of such is produced to us by your legal personal representative(s), which we deem to be sufficient in our absolute discretion, you authorize us to sell the gold in your Tiips Account at the prevailing market price and release the funds (after deducting all applicable fees and charges) to your legal personal representative. In such an event, your legal personal representative shall be the only person(s) recognised by Tiips as having any title or legal rights to your Tiips account.

Nothing in this Agreement shall release the estate of a deceased Customer from any liability in respect of the Tiips Account.

TAX

You are responsible for paying all local taxes and tariffs that are or may be applicable to purchases, conversion, sale or custody of gold, and any associated charges if applicable.

INTELLECTUAL PROPERTY AND CONFIDENTIALITY

  1. You acknowledge that any and all of the intellectual property rights including, without limitation, the Tiips trademark, any other trademarks, trade names, copyright and other rights used or embodied within the Tiips Platform are and will remain Tiips’s sole property.
  2. All information and material which we supply to you, excluding your account balances and other information specific to your account, constitutes part of our confidential and proprietary information except for any such information or material in the public domain through no fault of yours. You may not reproduce, copy, or disclose such confidential and proprietary information without our prior written consent.
  3. You warrant that you will not, nor will you attempt to, tamper with, modify, reverse engineer, gain unauthorised access to, or in any way alter any of our software or the Tiips Platform. You understand that we may close your account immediately, and may take legal action against you if you breach, or we reasonably suspect that you may have breached, this warranty.

MISCELLANEOUS

  1. Assignment
    1. Tiips may at any time assign, transfer, charge, subcontract or deal in any other manner with all or any of its rights under this Agreement and may subcontract or delegate in any manner any or all of its obligations under this Agreement to any third party or agent.
    2. You shall not, without the prior written consent of Tiips, assign, transfer, charge, subcontract, or deal in any other manner with all or any of its rights or obligations under this Agreement.
  2. Right of set-off
    1. You shall be under an obligation to pay all amounts due under this Agreement in full without any deduction or withholding except as required by law and you shall not be entitled to assert any credit, set-off, or counterclaim against Tiips in order to justify withholding or disputing payment of any such amount in whole or in part.
    2. Tiips may, without limiting its other rights or remedies, set-off any amount owing to it (or to any of its affiliates) by you against any amount payable by Tiips to you.
  3. Currency
    • Any and all monetary amounts displayed in the Tiips Platform are in the local currency.
      1. Currency conversions are performed from time to time.
      2. Tiips itself does not charge currency conversion fees and shall not be liable for any fees, charges, or conversion rates on international transactions which may be charged by credit card issuers, financial institutions, or banks.
  4. Entire agreement
    • This Agreement constitutes the whole and only agreement between the parties relating to the subject matter of the Agreement. Each party to the Agreement acknowledges that, except in the case of fraud, in entering into this Agreement, it is not relying on any pre-contractual statement which is not repeated in this Agreement.
      1. Except in the case of fraud by either party, no party shall have any right of action against the other party arising out of or in connection with any pre-contractual statement except to the extent that it is repeated in this Agreement.
      2. This Agreement applies to the exclusion of any other terms that you may seek to impose or incorporate, or which are implied by trade, custom, practice or course of dealing.
  1. Variation
    • . Except as set out in this Agreement, any variation, including the introduction of any additional terms and conditions, to the Agreement, shall only be binding when agreed in writing and signed by an authorised signatory of Tiips.
      1. We shall have the right, by notice in writing to you, to add to, alter, vary, supplement, or modify all or any parts of the Agreement at any time as we may consider necessary or desirable in order to reflect changes in the law, to meet regulatory requirements or to reflect new industry guidance and codes of practice or changes to our notices, policies and operating procedures.
      2. We may vary or amend the terms or provisions of this Agreement (including those relating to fees), by giving you written notice of any variation or amendment, which notice, if posted to your Tiips Account or email address, shall be deemed to have been received by you on the day it was posted.
      3. You shall be deemed to have agreed to any variation or amendment of the terms or provisions of this Agreement if you continue to use our services after the date specified in the notice as the effective date of such variation or amendment. If you do not wish to be bound by any variation or amendment notified to you in accordance with this clause 17.5, you may terminate this Agreement in accordance with clause 13.1 and must notify us in writing without delay and, in relation to variation or amendment under clause 17.5(c), before the expiry of the notice period.
  1. Severability
    In the event any provision (or part of any provision) of this Agreement shall for any reason be held by a court or any other competent authority to be invalid, illegal, or unenforceable, that provision, to the extent required, shall be deemed deleted and the remaining provisions shall remain valid and enforceable.
  2. Rights of third parties
    A person who is not a party to this Agreement shall not have any rights under or in connection with it.
  3. No agency or partnership
    Except as otherwise expressly provided for in this Agreement, nothing in this Agreement is intended to, or shall be deemed to, constitute a trust, partnership or joint venture of any kind between any of the parties, nor constitute any party a fiduciary or agent of another party for any purpose. No party shall have authority to act as agent for, or to bind, the other party in any way.
  4. Notices
    • . Any notice or other communication required to be given to a party under or in connection with this Agreement shall be in writing and shall be sent to the other party, such notice shall be deemed to have been duly received on the same day as it is sent.
      1. This clause 17.9 shall not apply to the service of any proceedings or other documents in any legal action, which documents must be sent to Tiips’s registered address, as published on the Tiips Website from time to time.
  1. No waiver
    • . A waiver of any right under this Agreement is only effective if it is in writing and shall not be deemed to be a waiver of any subsequent breach or default. No failure or delay by a party in exercising any right or remedy under the Agreement or by law shall constitute a waiver of that or any other right or remedy, nor preclude or restrict its further exercise. No single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that or any other right or remedy.
      1. Unless specifically provided otherwise, rights arising under the Agreement are cumulative and do not exclude rights provided by law.
  1. Governing law
    • . This Agreement is governed by the laws of Hong Kong applicable therein. In the event of a dispute but subject to clause 17.11(b) below, you agree that the courts of Hong Kong will be competent to hear such dispute, and you agree to be bound by any judgment of that court.
  2. Void where prohibited
    Although the Tiips Platform is accessible worldwide, not all features, products or services discussed, referenced, provided or offered through or on the Tiips Platform are available to all persons or in all geographic locations, or appropriate or available for use outside of Hong Kong. Tiips reserves the right to limit, in its sole discretion, the provision and quantity of any feature, product or service to any person or geographic area. Any offer for any feature, product or service made on the Tiips Platform is void where prohibited. If you choose to access the Tiips Platform from outside Hong Kong, you do so on your own initiative and you are solely responsible for complying with applicable local laws. Tiips is not responsible or liable for any legal action, loss or damage arising from or in connection with any illegality or breach of law arising from you accessing or initiating a transaction on the Tiips Platform outside Hong Kong.
  3. Language
    The parties to this Agreement have requested that this Agreement and any related document be written in English.

Notwithstanding any other provision of this Agreement, any translation of this Agreement is provided solely for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original language of English.

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tiips 自2019 年創立至今，2020年完成種子輪融資，唯2021年第四年仍未能籌得新一輪融資，我們作出了艱難的決定，將於2022年2月21號 23:59 終止tiips mobile app 的運作。

我們目前的首要任務是確保用戶積分換取資產及實金買賣服務暢順度及公平性，我們將會分階段停止tiips mobile app 的功能及運作。

實金之安全性

所有客戶的黃金儲存於Tiips Services limited。Tiips Services Limited 是獨立第三方信托人，信托或公司服務提供者牌照號碼為TC007559，客戶的黃金儲存於張氏金業有限公司Tiips Services Limited 的戶口。

Bitcoin的安全性

客戶的Bitcoin存量是儲存在Tips Dollar (HK) Limited 擁有的cold wallet。

時間表如下：

31/12/2021 23:59 停止買入實金。

1/1/2022 00:00 至 21/2/2022 23:59 tiips 積分換取資產及賣出實金及Bitcoin 如常進行。而我們將會用 ”買入價” 回購客戶的資產，已回饋客戶多年來的支持。

21/2/2022 23:59 tiips mobile app 停止運作。

1/3/2022 00:00 至 30/11/2022 23:59 人手處理顧客剩餘現金。客戶的剩餘資產將會用2/21/2022 23:59 當刻價格賣出，而相關金額我們會幫顧客保留，而我們將會用電郵方式確認客戶剩餘之金額，客戶可電郵[email protected] 或 Whatsapp 93889879辦理手續領取現全，該現金我們會用FPS 轉賬，手續費維持港幣$3。

1/12/2022 00:00 至 31/12/2022 23:59 我們會將所有顧客未領取的現金捐贈致愛護動物協會。

儘管tiips mobile app 將終止營運，我們往後會集中開發機構客戶市場，以延續寓消費於儲蓄的理念。

在此，我們衷心感謝所有在過去三年一直支持tiips的用戶、合作商戶及合作夥伴。

tiips was established in 2019 and accomplished its seed funding in 2020. It was with regret that we were still unable to receive the funding for the new round in 2021. Thus, we have unfortunately come to the decision to cease the operation of the tiips mobile app on 21 February 2022 23:59.
To ensure the smooth facilitation and fairness in user points & assets redemption and gold trading, we will close down the functions of tiips mobile app according to different phases.

Safety of Gold

All users’ gold is now stored in Tiips Services Limited, account provided by Cheung’s Gold Traders Limited. Tiips Services Limited is an third party trustee, which its Trust or Company Service Provider Licence number is TC007559.

Safety of Bitcoin

All users’ Bitcoin is now stored in the cold wallet owned by Tips Dollar (HK) Limited.

Timeline as follows:

31/12/2021 23:59 Gold purchases will be suspended.

1/1/2022 00:00 to 21/2/2022 23:59 tiips reward & assets redemption, gold selling and Bitcoin trading will be operated as usual. To express our gratitude throughout the years, tiips will purchase users’ assets at the “BUY PRICE”.

21/2/2022 23:59 tiips mobile app will be ceased to operate.

1/3/2022 00:00 to 30/11/2022 23:59 tiips will manually proceed the users’ remaining cash. Those assets will be sold at the price as of 21/2/2022 23:59, while we will keep the amount of money and email the customers for further confirmation. Customers may email us at [email protected] or Whatsapp 93889879 to collect the cash. The payment will be performed through FPS, and tiips will keep the handling fee at HKD 3.

1/12/2022 00:00 to 31/12/2022 23:59 tiips will donate all the uncollected cash to The Society for the Prevention of Cruelty to Animals (SPCA).

The tiips mobile app might have suspended its operation, nevertheless tiips will continue to expand its corporate market, to sustain the belief in combining spending and saving in the future.

Last but not least, we would like to express our heartfelt gratitude for the support from tiips’ users, merchants and partners over the past three years.